Insteel(US:IIIN)2025-07-02 06:17Business Overview - Insteel Industries is the largest U S manufacturer of steel wire reinforcing products for concrete construction applications[5] - Nonresidential construction accounts for 85% of sales, while residential construction accounts for 15%[7] - Concrete product manufacturers represent 70% of sales, with distributors, rebar fabricators, and contractors making up the remaining 30%[8] Growth Strategy - Insteel acquired Strand-Tech Manufacturing (STM) in March 2020 for $194 million[29] - The company expects to recover approximately $8 million of investment through the closure and sale of the Summerville facility[29] - The company is focused on pursuing additional strategic opportunities in existing core businesses or related products sold into same markets that offer substantial synergy potential[26] Trade Cases - PC strand imports represented around one-third of the U S market in 2019[33] - Alleged dumping margins for PC strand range from 24% to 194%[33] - Filings covered 89% of 2019 import volume[33] - Alleged dumping margins for SWWR range from 56% to 160%[33] - Filings cover practically 100% of 2019 import volume in Insteel's market area[33] Financials - Capital expenditures are expected to total up to $20 million in fiscal year 2021[55] - As of October 3, 2020, Insteel was debt-free with $687 million of cash and no borrowings outstanding on its $100 million revolving credit facility[58]