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Pacific Coast Steel Buys Century Steel

San Diego-based Pacific Coast Steel said Feb. 12 that it had acquired Las Vegas-based Century Steel Inc. in a $151.5 million deal which is expected to close before the end of the quarter, pending regulatory approvals.

As part of the agreement, Century Steel President Todd Leany will take an ownership position in Pacific Coast Steel and join its executive management team, the companies said.

“Our philosophies and vision have always been very similar to PCS, as such we think they will be a great fit for our organization and our people,” Leany said.

Century Steel operates reinforcing and structural steel contracting businesses in Nevada, California, Utah and New Mexico with an annual capacity of more than 250,000 tons.

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The acquisition would give Pacific Coast Steel, already one of the largest reinforcing steel contractors in the country, more than 600,000 tons of capacity and 2,500 employees, the company said.

“We are very excited about the acquisition of Century Steel. They are a great company with strong leadership and a tradition of customer service that is among the best within our industry,” said Eric Benson, president of Pacific Coast Steel, which is a joint venture of Gerdau Amersteel Corp.

, Ned Randolph

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