BlueScope Steel completes $730 million acquisition of IMSA Steel Corp

Australian steelmaker BlueScope Steel Limited said its subsidiary, BlueScope Steel North America Corporation (www. bluescopesteel.com), has completed the acquisition of IMSA Steel Corp from Ternium S.A. for approximately $730 million.

IMSA Steel Corp has four distinct businesses with manufacturing facilities throughout the United States and sales throughout North America:

Varco Pruden Buildings Inc. ("VP") – a North American manufacturer of pre-engineered building systems for the non-residential market with five manufacturing facilities. It has a total annual processing capacity of approximately 210,000 tons.

Steelscape, Inc. - a West Coast producer of metal coated and painted steel coils with three production facilities. Steelscape has a total annual capacity of approximately 500,000 tons of metal coated steel products and 350,000 tons per annum of painting capacity.

Metl-Span LLC – a North American manufacturer of insulated steel panels for commercial, industrial and cold storage buildings. Metl-Span has five production facilities across the United States. ASC Profiles Inc. – a North American manufacturer of building components including architectural roof and wall systems and structural roof and floor decking. ASC has ten production facilities located primarily in the western U.S.

Brian Kruger, president of BlueScope Steel North America, said, “The addition of the four businesses significantly boosts our presence in North America and the combined businesses will represent approximately 25 percent of BlueScope Steel’s total revenue. Our strategic intent is to broaden our scope and geographic reach and to expand our developing downstream multi-brand, multi-channel strategy.”

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