Evraz sells Portland specialty steel business
6 March 2015
Evraz North America has sold a Portland asset that specializes in structural tubing.
The company sold the entity formerly known as Columbia Structural Steel to Maruichi Oregon Steel Tube LLC. Maruichi Oregon Steel Tube was established as an Oregon domestic limited liability company on Jan. 9 and appears to share a Portland address, at 8735 N. Harborgate St., with Evraz' local operations.
A Chicago-based Evraz spokeswoman said the two companies are located close to each other but aren't in the same physical building.
The 50 Portland employees at the site will all be offered positions with Maruichi.
"The structural tubing business does not align with our strategic priorities," said Conrad Winkler, president and CEO of EVRAZ North America, in a release. "We are pleased to sell it to Maruichi with an agreement to supply a significant part of their steel coil needs, and we appreciate their interest in retaining the seasoned workforce."
The structural tubing facility produces hollow steel sections used for construction and in industrial and agricultural projects.
Maruichi's home base is in Santa Fe Springs, California.
Evraz had been expected to sell many North American assets as it looked to cut debt. The company has six North American production sites, some 600 of whom are employed locally.
The company had restarted a Portland mill in 2013 after moving its North American headquarters out of the area in 2011.
Source : http://www.bizjournals.com