Atlas Tube acquires Copperweld business 

Date Closed: 10/03/2005 

Value: US$35 million

On October 3, 2005, Atlas Tube Inc., the leading producer of hollow structural sections in North America, acquired all the shares of Copperweld Holding Company of Pittsburgh, Pennsylvania, a leading manufacturer of tubular products with locations in Canada, the US and the UK. The purchase price for the shares was US$350 million, subject to customary working capital adjustments. Immediately following the completion of the acquisition, subsidiaries of Dofasco Inc. acquired Copperweld’s automotive and mechanical divisions and head office operations as well as a 50 per cent interest in Copperweld’s bimetallic wire business from Atlas Tube for an aggregate purchase price of approximately US$178 million, subject to post-closing adjustments. Dofasco is a leading North American steel solutions provider. Atlas Tube retained the structural division of Copperweld consisting of operations in Chicago, Illinois, Brampton, Ontario, and Winnipeg, Manitoba. Concurrently with the completion of the above transactions, Atlas Tube also completed a US$250 million syndicated debt financing, led by Comerica Bank and other lenders.

Copperweld was represented with a team in Toronto that included Frank Callaghan, Robert Black, Adam Fanaki, Larissa Tkachenko, Andrew Harrison, Simon Wormwell, William McLean, Brennan Carroll, David Pletsch, J. Pitman Patterson and Ziad Katul.