Economy
JFE Shoji America Completes Purchase of CEMCO
Written by David Schollaert
October 11, 2022
Los Angeles-based JFE Shoji America Holdings Inc. successfully completed the acquisition of California Expanded Metal Products Co. (CEMCO), the company said in an Oct. 10 news release.
The acquisition of the California-based cold-formed steel framing company expands JFE’s steel products business in the US.
CEMCO will continue manufacturing products under the leadership of Tom Porter, CEMCO’s president and CEO, and Ted Poliquin, former chairman and CEO, who will support in an executive advisory role.
Toshihiko Iizuka and Tadao Takahashi will join CEMCO’s leadership team as CFO and vice president of corporate planning, respectively.
“CEMCO fits our acquisition target profile and fills a business portfolio gap,” said Junji Yamada, Shoji America Holdings’ chairman and CEO. “We want to welcome the CEMCO team as the newest member of JFE Shoji America.”
“While it is extremely sad to say goodbye to the Poliquin family as the previous shareholders, we are excited about the new opportunities that JFE brings to our employees, our customers, our vendors, and our business partners,” said Porter.
Headquartered in Industry, Calif., CEMCO operates four manufacturing and distribution facilities, producing more than 300 million lineal feet of steel framing and building products per year. It serves the healthcare, office, retail, education, municipal, and transportation industries.
CEMCO’s product portfolio includes structural and non-structural light-gauge steel framing products, metal lath, proprietary fire-air-sound products, building accessories, and solar structural steel framing.
Tokyo-based JFE Shoji Corp. focuses on upstream to downstream steel-related businesses in Japan, the Americas, China, and ASEAN markets. Its North American offices are in Los Angeles, Houston, and Mexico City.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Economy
Architecture billings flat in October after months of contraction
Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.
Trump taps Lutnick to be Commerce Secretary
President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.
New York state manufacturing activity ramps up to multi-year high
New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
CRU: Dollar and bond yields rise, metal prices fall as Trump wins election
Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.
ISM: Manufacturing index fell in Oct to lowest point of ’24
Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.