Schuff Steel Utilizes Downturn in the Construction Market to Prepare for Future; Plans to Re-Open Orlando Plant in 2013

Marketwired

ORLANDO, FL--(Marketwire - Oct 9, 2012) - Schuff Steel Company, a subsidiary of Schuff International, Inc. (PINKSHEETS: SHFK), a family of companies providing fully integrated steel construction services, announces plans to re-open their Orlando, FL fabrication plant in 2013 as a result of increased market demand in the Southeast region, as well as international markets serviced by Schuff from its Florida location and other facilities across the country.

The construction market in the Southeast region has been very challenging over the last few years. During this downturn, Schuff has streamlined and re-organized its Southeast operations. In April 2012, Schuff issued a WARN notice for its Orlando facility in light of the decreased demand for structural steel, but continued to service the Southeast market through its operations in Albany, Georgia.

"We are seeing signs of increased market activity and plan on re-opening our Orlando plant in the first half of 2013," said Ryan Schuff, President and CEO of Schuff Steel. "We have also centralized our Southeast operations and revamped our executive management team by adding and transferring some key employees to our newly renovated Orlando office."

Schuff continues to service its clients by delivering its expertise in Design-Build and Design-Assist services on structural steel projects. "Schuff remains committed to servicing the Southeast region and international markets for the long haul. We have been patiently re-organizing our efforts in the Southeast region, and we look forward to seeing the results in the coming years," Schuff concluded.

About Schuff International, Inc.

Schuff International, Inc. (PINKSHEETS: SHFK) and its family of steel companies is the largest steel fabrication and erection company in the United States. The 36-year old company executes projects throughout the country as well as internationally. Schuff offers integrated steel construction services from a single source including design-build, design-assist, engineering, BIM participation, 3D steel modeling/detailing, fabrication, advanced field erection, joist and joist girder manufacturing, project management, and single-source steel management systems. Schuff International, Inc. employs approximately 1,500 people throughout the country. For more information, visit: www.schuff.com.

Certain statements in this news release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding the increased demand of the U.S. Southeast and International construction markets and the Company's future plans of the Company staying in the U.S. Southeast market area are forward-looking statements that involve substantial risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. These risks and uncertainties include, but are not limited to, the company's ability to obtain projects in the U.S. Southeast and International construction market and successfully and timely complete those construction projects; the company's ability to convert backlog into revenue; the potential delay, suspension, termination, or reduction in scope of a construction project; forecasted regional and end-market growth; the ability to hire new workers and retain certain members of management; the effectiveness of the Company's re-organization and consolidation actions; the ability to obtain surety bonds to secure its performance under certain construction contracts; possible labor disputes or work stoppages within the construction industry; the ability of project owners to obtain financing for projects; and actions taken or not taken by third parties, including the Company's customers, suppliers, business partners, and competitors and legislative, regulatory, judicial and other governmental authorities and officials in the U.S. and foreign countries. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Contact:
AT THE COMPANY:
Robb Waldrep
Vice President & COO
Schuff Steel Company
E-mail: Email Contact

Rates

View Comments (0)