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The Shareholder Forumtm

support for fair value realization

of stock investments in

DBM Global Incorporated

(f/k/a Schuff International Inc.)

 
 

Support of Minority Shareholder Interests

The Shareholder Forum had offered to support Appraised Value Rights ("AVR") of DBM (f/k/a Schuff International) minority shareholders in 2014 following a $31.50 per share tender offer by the company's controlling shareholder, HC2 Holdings, Inc., with the stated intent to proceed with a short-form merger "as soon as practicable.”

HC2 acquired DBM shares in the 2014 tender offer and other purchases bringing its total holdings to 92% of outstanding DBM shares, but has not proceeded with a merger. The Forum has continued to support the minority shareholder interests of its AVR participants in this context.

 
     

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Local view of DBM's $9 million investment in Schuff expansion facility

 

Source: Charlotte Business Journal, July 19, 2018 article

Manufacturing

Steel fabricator used for Apple HQ, other high-profile projects adding plant in Rock Hill, creating 180 jobs

Schuff fabricates and erects structural steel like what's seen at The RailYard project in South End.
MELISSA KEY

 

By Ken Elkins – Senior Staff Writer, Charlotte Business Journal

Jul 19, 2018, 1:07pm

A Phoenix, Arizona, structural steel fabricator will hire 180 and spend $9 million to reopen a Rock Hill plant.

Schuff Steel Co., which has provided the steel skeleton for such projects as the circular Apple Inc. headquarters in Cupertino, California, and the Wilshire Grand in Los Angeles, expects to start production in the renovated building by year end.

"Expanding our manufacturing operations to York County will enhance Schuff Steel's fabrication capabilities and capacity in the eastern region of the United States,” says Rustin Roach, CEO of DBM Global Inc., which owns Schuff Steel.

S.C. Gov. Henry McMaster says the new jobs are high paying.

“The 180 new jobs this investment will create will change the lives of South Carolinians; and, for that, we are extremely grateful,” McMaster says.

Schuff Steel is directly operated by HC2 Holdings Inc. (NYSE: HCHC). Engineering News-Record magazine ranks Schuff Steel as the top steel erector in the U.S.

Schuff Steel will occupy a 148,000-square-foot building at 1345 Hall Spencer Road in southeastern Rock Hill, near the town of Catawba. The structure had been occupied by Supermetal until 2017 and previously by Worthington Industries Inc., which closed its steel fabrication there a decade earlier.

The building is located on a 45-acre site.

Hiring should begin later this quarter. Those interested in applying for a position should check the Schuff Steel website here, although no local job openings are listed yet.

Schuff operates eight steel fabrication plants in the United States. The closest location to Charlotte is a facility in Albany, Georgia.

© 2018 American City Business Journals.


 

 

 

The project supporting investor interests in DBM Global Incorporated (f/k/a Schuff International, Inc.) is being conducted by the Shareholder Forum for the benefit of Participants that have reserved Appraised Value Rights ("AVR") Management, subject to conditions including standard Forum policies that each Participant is expected to make independent use of information obtained through the Forum and that participation is considered private unless the Participant specifically authorizes identification.

Inquiries may be sent to shfk@shareholderforum.com.

The information provided to Forum participants is intended for their private reference, and permission has not been granted for the republishing of any copyrighted material. The material presented on this web site is the responsibility of Gary Lutin, as chairman of the Shareholder Forum.

Shareholder Forum™ is a trademark owned by The Shareholder Forum, Inc., for the programs conducted since 1999 to support investor access to decision-making information. It should be noted that we have no responsibility for the services that Broadridge Financial Solutions, Inc., introduced for review in the Forum's 2010 "E-Meetings" program and has since been offering with the “Shareholder Forum” name, and we have asked Broadridge to use a different name that does not suggest our support or endorsement.