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The company has “decided to cancel the acquisition” of a piece of land comprising 36,850 square metres at the Port of Vancouver in Washington state, it announced on Friday February 20.
The decision was taken following “results of further economic studies” related to the construction of the plant, Maruichi Steel Tube said.
It noted that it did not have to pay any cancellation fee.
Before the official announcement, Steel First sister company AMM had reported early last week that Maruichi’s local subsidiary, Maruichi American Corp, was abandoning plans to purchase the land from the Port of Vancouver for the purpose of setting up the plant.
The plant would have been the company’s third in the USA – it operates one facility in Santa Fe Springs in California and another in Chicago.
