Dofasco Inc. announced that it has successfully completed the acquisition of certain assets of Copperweld Holding Co. of Pittsburgh, through a transaction with Atlas Tube Inc. of Harrow, Ontario.
The transaction, which was announced on August 17, was completed effective October 3, 2005 at a purchase price of $177.8 million (U.S.). It is expected that this price will be reduced by post-closing adjustments.
Dofasco purchased the assets related to Copperweld's mechanical tubing and automotive components businesses from Atlas immediately following the acquisition of Copperweld Holding Co. by Atlas.
Dofasco's wide range of steel products is sold to customers in the automotive, construction, energy, manufacturing, pipe and tube, appliance, packaging and steel distribution industries.