IE Business Daily Business news for the Inland Empire.
A Houston-based steel company has bought a distribution facility in Fontana.
Instel Steel West LLC, which supplies steel to the construction industry, bought a 50,000-square-foot on five acres in Fontana, according to a statement.
Both the cost of the property, which is at 1338 Napa St, and the property’s seller were not disclosed.
The transaction was announced Tuesday.
Instel Steel West wanted a logistics operation in the Inland Empire because it expects the region’s construction industry to keep growing as the economy continues to improve, said Kevin M. Dempsey, the company’s vice president.
“With the construction market picking up again in the region, we identified the county of San Bernardino as a strategic location to expand our operations,” Dempsey said in a statement. “It was important to find an affordable location that provided a logistics infrastructure to support both our rail and trucking requirements in order to serve California and other western markets.”
Instel Steel West recently closed its office in Lake Forest in south Orange County and is working out of its Fontana office, where it plans to employ up to 20 people, according to the statement.
Dempsey credited the San Bernardino County Economic Development Agency with helping to make Instel Steel’s expansion into California “a smooth and seamless process” and praised its “pro-business approach.”
Instel Steel West is a wholly-owned subsidiary of Triple-S Steel Holdings Inc. in Houston. Founded in 1960, Triple S sells nearly 500,000 tons of steel a year and does business throughout North America, Central and South America and Asia, according to the company’s website.
