said it purchased the rest of its subsidiary American Steel LLC that it did not already own, buying the remaining 49.5 percent stake from American Industries Inc. Terms were not disclosed. The L.A.-based metals services company had owned a 50 percent stake in the subsidiary from 1995 to 2002, when it raised its interest to 50.5 percent.
American Steel, which had net sales of about $107 million in 2005, operates metals service centers in Portland, Ore., and Kent, Wash., and distributes primarily carbon steel products.
- Platinum Equity completed the sale of portfolio company ACR Logistics to Kuehne + Nagel International AG, a logistics company. Terms of the deal were not disclosed. Beverly Hills-based Platinum acquired the business, which was known as Hays Logistics, from Hays Plc in February 2004, established the organization as a standalone company and re-launched it under the new name ACR Logistics.
- Jacobs Engineering Group Inc. said a subsidiary received a contract from the city and county of Denver to provide project management services for the $378 million justice center in the Civic Center District. The Pasadena-based company did not disclose the value of the contract. The project represents over 750,000 square feet of new construction, including a 35-courtroom courthouse and an adjacent 1,500-bed detention facility, a post office building and a 600-car parking structure.
Jacobs also announced that another subsidiary company was awarded a contract from Netherlands Refining Co. (Nerefco) to provide engineering and design and field services for the Profitable Oil Movement System at a refinery in Rotterdam, the Netherlands. Nerefco is a joint venture between BP Plc (69 percent) and Chevron Corp. (31 percent). Officials did not disclose the contract value. With a capacity of 440,000 barrels a day, the refinery is one of the largest crude oil sites in Europe, Jacobs said.
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