Schuff Steel Company Qualifies for American Recovery and Reinvestment Act

Schuff Steel Company, through its parent, Schuff International, Inc. (PINKSHEETS: SHFK), has qualified for a federal tax credit in the amount of $7,073,316 as part of the American Recovery and Reinvestment Act (ARRA) Section 48C Clean Energy Manufacturing Tax Credit.

Schuff Steel, the largest steel fabricator and erector in the United States, was awarded the ARRA tax credit to be used in the potential construction and operation of a new wind power tower manufacturing facility in Bismarck, ND.

"We are thrilled to have received the tax credit for the potential wind energy tower manufacturing facility in North Dakota. This award is a key factor in our decision-making regarding the large capital investment required for this new plant but much work remains to be done," says Robb Waldrep, vice president of Schuff International.

"Currently, we are attempting to secure financing for the wind energy project and finalize orders from potential customers to manufacture wind towers to ensure the viability of the investment in this new plant if Schuff makes the commitment to proceed with construction."

Schuff is actively pursuing strategic alliances to help increase their presence in the renewable energy sector, particularly in wind energy and solar technologies. To date, Schuff has provided steel fabrication for several projects in the solar sector but has not yet participated in wind energy.

With thirteen shops in California, Arizona, Kansas, Texas, Georgia and Florida providing over 1.5 million SF of fabrication space under roof, Schuff International and its family of companies is the largest supplier of specialty fabricated steel in the United States.

Schuff’s broad geographic presence is ideal for fulfilling the growing steel fabrication needs of the renewable energy sector as well as the needs of the traditional energy markets which Schuff has and continues to service.

Schuff International, Inc. is a 33-year old company with projects on-going throughout the country. Major market segments include industrial, public works, bridges, health care, gaming and hospitality, convention centers, stadiums, mixed-use and retail, transportation, solar and other renewable energy projects and international projects.

Schuff International, Inc., headquartered in Phoenix, AZ, owns and operates eleven 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, Chicago, IL 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 1,500 people throughout the country.