Gibraltar Industries has found a buyer for the Alabama-based bar grating business it initially had planned to close.
The Hamburg-based construction products manufacturer said Monday it has sold most of the assets from its Amico US bar grating business to a subsidiary of steel maker Nucor Corp., Fisher & Ludlow.
Gibraltar had announced plans to close Amico as part of its efforts to put more of its capital into its most profitable and fastest-growing product lines, while eliminating or scaling back its investments in its weakest units.
The sale will preserve "a substantial number" of jobs at Amico, which also has distribution centers in Illinois, Florida, California and Texas, as well as a factory in Louisiana, said Frank Heard, Gibraltar's CEO.
The terms of the sale were not disclosed.