On Aug. 16, Copperweld entered into an agreement to sell 100% of the company's stock to Atlas Tube, of Harrow, Ontario, Canada. Concurrently, Dofasco Inc., headquartered in Hamilton, Ontario, will acquire the assets of Copperweld's Mechanical Tubing and Automotive businesses from Atlas. The transactions are expected to close in the fourth quarter.
Atlas Tube produces structural steel tubing, with operations in Harrow, Ontario, and Plymouth, Mich., and a conversion plant in Hickman, Ark. It will retain Copperweld Structural Tubing business operations.
Dofasco is a supplier of steel and tubing products to the automotive, construction, energy, pipe and tube, appliance, packaging and steel distribution industries.