Gerdau Ameristeel Purchases Iron and Metal Company
March 27, 2006
Gerdau Ameristeel (http://www.gerdauameristeel.com), headquartered in Toronto, Ontario, Canada, has acquired Fargo Iron and Metal Co., headquartered in Fargo, N.D. Terms of the transaction were not disclosed. For more than 100 years, Fargo Iron and Metal has served the steel industry as a scrap yard and processing facility. The facility also provides a steel service center for local manufacturers and construction companies. Fargo has one location and employs approximately 25 people. It is stated that the Fargo acquisition will enhance Gerdau Ameristeel's strategy to grow its scrap processing capability throughout North America due to Fargo's proximity to the four existing North Dakota scrap yards and Gerdau Ameristeel's Midwest steel operations.