August 28, 2008
Schuff Steel Company Reaches a Major Milestone at L.A. Live
Schuff Steel Company reached a major milestone as it topped out the Conference Center and Regal Cinema movie theater complex at L.A. Live--the largest development in Los Angeles' history. Schuff Steel Company is part of Schuff International, Inc. (OTC: SHFK), the largest steel fabrication and erection company in the United States.
L.A. Live is a mixed-use development on 27 acres in downtown Los Angeles that includes sports and entertainment venues, luxury hotels, businesses, conference center, Regal Cinema movie theater complex, retail, restaurants, condominium and apartment towers, and the Nokia Theater.
Schuff and the general contractor, PCL Construction Services, Inc., hoisted the final beam and the traditional evergreen tree to the top of the Conference Center to mark the construction milestone. Approximately 300 people participated in the event.
Schuff Steel's scope of work included detailing, fabrication and erection of 4,600 tons of structural steel for the 550,000 square foot Conference Center and Regal Cinema movie theater complex. Schuff started erection on April 17, 2008 and is scheduled to complete structural steel and metal deck in October 2008. Steel fabrication was performed in Schuff's Phoenix and Flagstaff, Arizona plants.
"This will be an exciting venue for California visitors and residents to enjoy for many years to come. Schuff Steel is extremely proud that we were part of this monumental project," said Ryan Schuff, president and CEO of Schuff Steel Company.
From 2005 to 2007, Schuff's California operations have experienced significant growth due to strong demand for the company's design-build/design-assist and 3D modeling/BIM solutions. Schuff's California offices are located in Newport Beach, Oakland and San Diego.
About Schuff International, Inc.
Schuff International, Inc. (OTC: SHFK) and its family of steel companies is the largest steel fabrication and erection company in the United States. The 32-year-old company is experiencing record growth with major projects in progress throughout the country. Schuff offers integrated steel construction services from a single source. Professional services include design-build, design-assist, engineering, BIM participation, 3D steel modeling/detailing, fabrication, advanced field erection, joist and joist girder manufacturing, project management, and single-source steel management systems. Major market segments include industrial, public works, bridges, health care, gaming and hospitality, convention centers, stadiums, mixed-use and retail, transportation, and international projects. Schuff International, Inc., which is headquartered in Phoenix, AZ, owns and operates eight steel fabrication plants and two steel joist manufacturing plants.
Companies include Schuff Steel Company located in AZ, NV and CA; Schuff Steel-Midwest Division located in Overland Park, KS, Ottawa, KS, and Denver, CO; Schuff Steel-Gulf Coast, Inc., located in Houston, TX; Schuff Steel-Atlantic, Inc., located in Orlando, FL, Albany, GA and Atlanta, GA; Schuff Steel Management Company-Southwest, Inc., located in Gilbert, AZ; and Quincy Joist Company located in Quincy, FL and Buckeye, AZ. Schuff employs approximately 2,000 people throughout the country. For more information, visit www.schuff.com. Certain statements in this news release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. These risks and uncertainties include, but are not limited to, the company's ability to successfully and timely complete construction projects; the company's ability to convert backlog into revenue; the potential delay, suspension, termination, or reduction in scope of a construction project; the continuing validity of the underlying assumptions and estimates of total forecasted project revenues, costs and profits and project schedules; the outcomes of pending or future litigation, arbitration or other dispute resolution proceedings; the availability of borrowed funds on terms acceptable to the company; the ability to retain certain members of management; the ability to obtain surety bonds to secure its performance under certain construction contracts; possible labor disputes or work stoppages within the construction industry; the ability of project owners to obtain financing for projects; and actions taken or not taken by third parties, including the company's customers, suppliers, business partners, and competitors and legislative, regulatory, judicial and other governmental authorities and officials. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.