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Schuff Steel Company Completes Purchase of Steel Fabrication Facility in Stockton, CA

^{Published on 2009-12-07 04:36:44 - Market Wire}
 

STOCKTON, CA--(Marketwire - December 7, 2009) - Schuff Steel Company, a wholly-owned subsidiary of Schuff International, Inc. (PINKSHEETS: [ SHFK ]), has completed an asset purchase for a [ steel fabrication ] plant and certain other assets from California-based Strocal, Inc. Schuff [ Steel ], the largest steel [ fabricator ] and [ erector ] in the United States, completed the transaction on December 4, 2009. This strategic purchase will increase Schuff's steel fabrication capacity, further enhancing their presence in the Northern California market and supporting additional regional and end-market growth.

Located approximately 65 miles from Oakland, CA, the Stockton plant sits on 30 acres of land with 121,500 square-feet under roof. Schuff expects an annual capacity of more than 25,000 tons of specialty fabricated steel from this facility.

With the addition of this new facility in Stockton, Schuff enhances its ability to service the Bay Area, as well as expand their presence in the [ Pacific Northwest ]. Also, due to its proximity to the Port of Stockton, this location opens more possibilities for Schuff to pursue projects overseas.

"Schuff Steel is very excited about the Stockton, CA facility and the potential it brings," said Ryan Schuff, president and CEO of Schuff Steel Company. "This is an ideal location for our efforts on the West Coast, especially the Bay Area, and also provides a springboard for us to grow our presence in the Pacific Northwest. Contractors and owners alike understand the cost and schedule advantages of bringing Schuff on-board early to assist with pre-construction design, engineering and cost analysis. In particular, our clients continue to seek our expertise in [ Design-Assist ], [ Design-Build ] and 3D/[ Building Information Modeling ] ([ BIM ]). We continue to offer our clients innovative structural steel solutions at a level unmatched in the industry."

Including this latest purchase, Schuff International, Inc. owns and operates ten steel fabrication plants and two steel joist manufacturing plants. Companies are located in Arizona, California, Colorado, Florida, Georgia, Kansas, Nevada, and Texas.

About Schuff International, Inc.

Schuff International, Inc. (PINKSHEETS: [ SHFK ]) and its family of steel companies is the largest steel fabrication and erection company in the United States. The 33-year old company executes projects throughout the country. Schuff offers integrated steel construction services from a single source. Professional services include design-build, design-assist, engineering, BIM participation, 3D steel modeling/detailing, fabrication, advanced field erection, joist and joist girder manufacturing, project management, and single-source steel management systems. Major market segments include industrial, public works, bridges, health care, gaming and hospitality, convention centers, stadiums, mixed-use and retail, transportation, solar and other alternative energy projects and international projects. Schuff International, Inc., which is headquartered in Phoenix, AZ, owns and operates ten steel fabrication plants and two steel joist manufacturing plants. Companies include Schuff Steel Company located in AZ, NV and CA; Schuff Steel-Midwest Division located in Overland Park, KS, Ottawa, KS, Chicago, IL and Denver, CO; Schuff Steel-Gulf Coast, Inc., located in Houston, TX; Schuff Steel-Atlantic, Inc., located in Orlando, FL, Albany, GA and Atlanta, GA; Schuff Steel Management Company-Southwest, Inc., located in Gilbert, AZ; and Quincy Joist Company located in Quincy, FL and Buckeye, AZ. Schuff employs approximately 1,500 people throughout the country. For more information, visit [ www.schuff.com ].

Certain statements in this news release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. These risks and uncertainties include, but are not limited to, the company's ability to successfully and timely complete construction projects; the company's ability to convert backlog into revenue; the potential delay, suspension, termination, or reduction in scope of a construction project; forecasted regional and end-market growth, including future expansion on the West Coast, Pacific Northwest and overseas and foreign markets; the continuing validity of the underlying assumptions and estimates of total forecasted project revenues, costs and profits and project schedules; the outcomes of pending or future litigation, arbitration or other dispute resolution proceedings; the availability of borrowed funds on terms acceptable to the company; the ability to retain certain members of management; the ability to obtain surety bonds to secure its performance under certain construction contracts; possible labor disputes or work stoppages within the construction industry; the ability of project owners to obtain financing for projects; and actions taken or not taken by third parties, including the company's customers, suppliers, business partners, and competitors and legislative, regulatory, judicial and other governmental authorities and officials. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.