Business Services Industry
Mexican Steelmaker to Buy Memphis, Tenn.-Based Subsidiary of LTV.
Knight Ridder/Tribune Business News, August, 2001
By Christopher Barton, The Commercial Appeal, Memphis, Tenn. Knight Ridder/Tribune Business News
Aug. 23--A Mexican company will pay $102 million for Memphis-based VP Buildings Inc., a subsidiary of bankrupt steelmaker LTV Corp. of Cleveland.
Grupo IMSA S.A., based in Monterrey, Mexico, is a $2.2 billion company with holdings in steel, automotive batteries, aluminum, and construction products.
VP Buildings, a maker of pre-engineered steel buildings, employs 140 people in Memphis in engineering, research, marketing and administrative positions.
No job cuts at the corporate headquarters are expected, officials said.
The local office at 3200 Players Club in Southwind also supports about 2,300 employees at seven...
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