Canam buys plants in Arizona and Florida, terms not immediately available

SAINT-GEORGES, Que. – Canam Group Inc. (TSX:CAM) said Monday it has signed a deal to buy the steel joist fabrication assets of Quincy Joist Co., a subsidiary of Schuff International Inc.

Terms of the deal were not immediately available.

The assets include a plant in Buckeye, Ariz., with equipment and inventory, and a plant in Quincy, Fla. with equipment and inventory, but not the land.

Canam said it will operate the Buckeye plant, but will move the equipment from the Florida location to its other joist fabrication plants.

The plant in Buckeye, about 60 kilometres west of Phoenix, employs about 70 people and has an annual production capacity of 30,000 tons.

Canam is a fabricator of steel components with plants in Canada and the U.S.