PHOENIX, Ariz., March 28, 2006 -- Schuff International, Inc. (OTC: SHFK.PK), a family of companies providing fully integrated steel construction services, today announced that Witherspoon Acquisition Corp. has withdrawn its previously announced offer to acquire all of the outstanding shares of common stock of Schuff International, Inc., for $8.50 per share in cash.
All shares tendered in the tender offer will be returned as promptly as practicable to the persons who tendered them.
Schuff International is a fully integrated fabricator and erector of structural steel and heavy steel plate. Schuff International fabricates and erects structural steel for commercial and industrial construction projects such as high- and low-rise buildings and office complexes, hotels and casinos, convention centers, sports arenas, shopping malls, hospitals, dams, bridges, mines, and power plants. Schuff International also manufactures short- and long-span joists, trusses, and girders as well as specializes in the fabrication and erection of large-diameter water pipe, water storage tanks, pollution control scrubbers, tunnel liners, pressure vessels, strainers, filters, separators, and a variety of customized projects.
More information may be obtained from Georgeson Shareholder, the Information Agent for the offer, at 1-888-264-7035.