Industry News

Grupo Imsa Acquires Industrial Steel Painting Plant in Alabama

Published on 2005-01-04. Author : SpecialChem

Monterrey, N.L., Mexico -- Grupo Imsa informs that, through IMSA ACERO, it has acquired the assets of Polymer Coil Coaters from Magnatrax Corporation for US$29 million. These assets mainly comprise an industrial continuous steel painting line in Fairfield, Alabama, which supplies the construction industry in the southeastern United States.The plant has an annual production capacity of 135,000 tonnes of pre-painted steel.

Santiago Clariond, IMSA ACERO's CEO, explained, "This plant will be integrated into Steelscape's operations, expanding our geographic presence in the United States which is currently concentrated in the western region of that nation. One of our objectives for Steelscape is to grow in an ordered and profitable way in order to give us nationwide coverage to become the U.S. construction industry's most important pre-painted steel supplier." Mr. Clariond added, "Additionally, this acquisition is in line with our strategy of growing in high value added product lines, such as pre-painted steel, where we lead the markets in Mexico and on the west coast of the United States."

With the acquisition of Polymer Coil Coaters, IMSA ACERO increases its industrial pre-painted steel capacity to a total of 845,000 tonnes per year. The new production capacity strengthens its position in the North American market by allowing it to cover the west coast and southeastern regions of the United States from its U.S. plants and the south of the nation from its plants in northern Mexico.

Grupo Imsa, a holding company, dates back to 1936 and is today one of Mexico's leading diversified industrial companies, operating in four core businesses: steel processed products; automotive batteries and related products; steel and plastic construction products; and aluminum and other related products. With manufacturing and distribution facilities in Mexico, the United States, and throughout Central and South America, Grupo Imsa currently exports to all five continents. In 2002 the Company's sales reached US$2.6 billion, of which close to 55% was generated outside Mexico. Grupo Imsa shares trade on the Mexican Stock Exchange (IMSA) and, in the United States, on the NYSE (IMY).

Source: Grupo Imsa

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