Ameron, Tokyo Steel to Divest Tamco Mill

Ameron International Corp., a Pasadena-based construction materials maker, and steel-beam producer Tokyo Steel Manufacturing Co. plan to sell their 75% stake in Tamco, a Rancho Cucamonga steel mill, to focus on other businesses. Ameron, which also makes fiberglass, pipe and coatings, owns 50% of closely held Tamco. Japan’s Tokyo Steel owns 25%. The rest of the mini-mill is owned by Mitsui & Co., a Japanese trading company. Tamco, with sales of $139 million last year, makes 500,000 tons of steel bar annually for use in construction. Mini-mills make steel from molten scrap metal instead of processed iron. Ameron shares fell 38 cents to close at $58.38 on the New York Stock Exchange.