Gerdau Ameristeel Announces Acquisition of Enco Materials
10/02/2007 - Gerdau Ameristeel acquires Enco Materials, a Nashville-based supplier of fabricated products to the commercial construction market.
Gerdau Ameristeel Corp. has acquired Enco Materials, Inc. Terms of the transaction were not disclosed.
Enco is a leader in the commercial construction materials market, including fabricated rebar, construction products, concrete forming and shoring material, as well as fabricated structural steel and architectural products.
"We are very excited about the opportunities Enco brings to our company", stated J. Neal McCullohs, Vice President of Commercial and Downstream Operations, for Gerdau Ameristeel. "This acquisition positions us in new markets, but more importantly, it expands our product and service offerings to our current customers."
Originally founded in 1909, Enco is a third-generation family business led by Wilbur (Carson) Sensing III - President, and Ben Sensing – Executive Vice President, both of whom intend to remain with the organization. They bring with them a talented senior management team with extensive experience in the construction industry.
Headquartered in Nashville, Tenn., Enco has eight facilities with fabrication capacity of approximately 50,000 tons and over 250 employees, located in Arkansas, Tennessee, and Georgia.
Gerdau Ameristeel is the second-largest minimill steel producer in North America with annual manufacturing capacity of approximately 12 million tons of mill finished steel products. Through its vertically integrated network of 19 minimills (including one 50% owned joint venture minimill), 19 scrap recycling facilities and 54 downstream operations, Gerdau Ameristeel serves customers throughout North America. The company's products are generally sold to steel service centers, steel fabricators, or directly to original equipment manufactures for use in a variety of industries.
