JFE SHOJI AMERICA HOLDINGS, INC. COMPLETES ACQUISITION OF CEMCO®

LOS ANGELES, Oct. 11, 2022 /PRNewswire/ -- JFE Shoji America announced today the successful completion of the previously announced acquisition of CEMCO® effective October 4^th, 2022. CEMCO, LLC will continue as the premier manufacturer of cold-formed steel framing products under the leadership of Tom Porter, President and CEO. Former CEO and Chairman of the Board, Ted Poliquin, will remain as Executive Advisor. Joining CEMCO's leadership team will be Toshihiko (Tosh) Iizuka as CFO, and Tadao (Tad) Takahashi as Vice President of Corporate Planning.

Junji Yamada, CEO of JFE Shoji America Holdings and Chairman of CEMCO, LLC, remarked, "JFE Shoji America has a disciplined acquisition model. We seek valuable franchises with strong brands, similar corporate cultures, and excellent business fundamentals. CEMCO fits our acquisition target profile and fills a business portfolio gap. We want to welcome the CEMCO team as the newest member of JFE Shoji America."

"While it is extremely sad to say goodbye to the Poliquin family as the previous shareholders, we are excited about the new opportunities that JFE brings to our employees, our customers, our vendors, and our business partners." said Tom Porter.

CEMCO plans to manage and grow the business with the same foresight and vision, resulting in one of the industry's most influential and innovative manufacturers in the nation. JFE Shoji as the new owner will bring its history of success as a world-leader in steel manufacturing to the new CEMCO management team, further strengthening CEMCO as it navigates the future filled with opportunity.

JFE Shoji Corporation is working to establish a more stable revenue base by expanding both trade and business. In addition, JFE Shoji strengthens business foundation by accelerating collaborations between business bases based on global four key regions, which focuses on Japan, the Americas, China, ASEAN. By expanding supply chain from upstream to downstream with the focus on steel-related businesses, JFE Shoji opens new possibilities and pursues social and environmental issues such as carbon neutrality and a recycling-oriented society as opportunities for growth. While taking advantage of the management resources and information network, JFE Shoji is working on ESG management to lead during the times ahead. For more information on JFE Shoji Corporation visit https://www.jfe-shoji.co.jp/en/

CEMCO® LLC, a member of the JFE Shoji America group is the premier manufacturer of cold-formed steel framing and metal-lath products in the United States. Its steel-framing product segments include CEMCO® joint firestopping products, ProX Header®, Sure-Span® steel framing floor joist system, Sure-Board® for shear-wall panels, Viper-X® and ViperStud® interior stud framing systems, metal lath and water-management products along with its SFIA Code Certified steel framing products. CEMCO is the leader in quality, service, and product development, and offers one of the broadest product lines available in cold-formed steel framing used for both the commercial and residential construction markets.

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SOURCE CEMCO