JFE Shoji America announced today the successful completion of the previously announced acquisition of CEMCO, effective Oct. 4. CEMCO, LLC will continue as the premier manufacturer of cold-formed steel framing products under the leadership of President and CEO Tom Porter. 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.
“JFE Shoji America has a disciplined acquisition model,” remarked Junji Yamada, CEO of JFE Shoji America Holdings and Chairman of CEMCO, LLC. “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.” Porter said.
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.