Economy

JFE Shoji America Acquires Steel Framing Company CEMCO
Written by Laura Miller
August 19, 2022
Los Angeles-based JFE Shoji America Holdings Inc. is expanding its steel products business in the US with the acquisition of steel framing company California Expanded Metal Products Co. (CEMCO).
Headquartered in Industry, Calif., family-owned CEMCO operates four manufacturing and distribution facilities in Industry; Pittsburg, Calif.; Denver, Colo.; and Fort Worth, Texas. It produces more than 300 million lineal feet of steel framing and building products per year, serving the healthcare, office, retail, education, municipal, and transportation industries. Its 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.
Once the transaction closes in September, CEMCO’s facilities will continue to operate as usual with its same management structure.
“The transaction is a great outcome for our customers, vendors, employees, and business partners. We will be able to take our great service model forward as it is today. JFE Shoji Group’s capital, supply chain, and industrial operations resources will be a great benefit to CEMCO. We are really excited to leverage JFE Shoji’s capabilities,” CEMCO president Tom Porter said.
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 located in Los Angeles, Houston, and Mexico City.
By Laura Miller, Laura@SteelMarketUpdate.com

Laura Miller
Read more from Laura MillerLatest in Economy

SMU Community Chat: Tariff-induced panic purchases, inflation, and calculating costs
Chief executive of the Institute for Supply Management (ISM), Tom Derry highlighted how reactive buying behavior has shifted the market into a quiet demand period. Derry presented ISM data during the weekly SMU community chat.

Architecture billings still sluggish despite project inquiry uptick
The Architecture Billings Index (ABI), a leading indicator for non-residential construction activity, declined for an eighth straight month in June.

Beige Book: Tariff pressures mount, flat outlook
All districts reported “experiencing modest to pronounced input cost pressures related to tariffs, especially for raw materials used in manufacturing and construction.”

Steel exports recovered in May but still historically low
US steel exports rose 10% from April to May but remained low compared to recent years. This came just one month after exports fell to the lowest level recorded in nearly five years.

AISI: Raw steel production ticks up near recent high
The volume of raw steel produced by US mills inched higher last week, according to the American Iron and Steel Institute (AISI). After steadily increasing in April and May, domestic mill output stabilized in early June and has remained historically strong since.