Empire sells Winnipeg, Welland steel fabrication plants
Empire Industries is selling its steel fabrication operations in Winnipeg and Welland, Ont. to the Supreme Group, an Edmonton-based steel fabricator.
WINNIPEG: Empire Industries Ltd. is staying in the structural steel market, but it’s selling its Empire Iron Works structural steel fabrication operations in Winnipeg and its Hopkins Steel Works facility in Welland, Ont. to the Supreme Group, supremegroup.com an Edmonton-based steel fabricator.
The transaction, valued at $3.8 million plus the value of selected working capital, is to close Dec. 31.
“The company remains focused on fabricated steel markets where it has unique advantages such as the oil sands market in Alberta,” said Guy Nelson, CEO of Empire Industries. www.empind.com
Empire will continue to operate its Empire Iron Works facility in Edmonton and its Dynamic Structures facility in Port Coquitlam, BC.
“Our partnership with the Athabasca Chipewyan First Nation in Ft. McMurray positions us uniquely in one of the fastest growing industrial markets in North America. Empire also plans to introduce very competitive, high quality fabricated steel into the Alberta industrial market from our joint venture in China,” he said.
Empire Industries manufactures specialized engineered products for the domestic and select international export markets. It has a 49% ownership of ACE Industrial Services that operates in the oil sands industrial maintenance services market, and a 45% ownership of a Chinese joint venture company in the steel fabrication market in Asia.
The Supreme Group operates companies and business units throughout western Canada and the western US.