Warren Plant Acquired by Insteel Industries
WARREN, Ohio – North Carolina-based Insteel Industries has acquired the assets of a Sandusky wire manufacturer that has operations here, Insteel announced.
According to a press release issued by the company, Insteel subsidiary Insteel Wire Products Co. has completed the acquisition of Engineered Wire Products for $70 million. The purchase includes the company’s operations at 3121 W. Market St.
EWP also operated a manufacturing plant in Las Cruces, N.M. Insteel does not list that plant as a location on its website but does list an Upper Sandusky operation.
EWP manufactures welded wire reinforcement products for use in nonresidential and residential construction. For the 12 months ended Sept. 30, 2024, EWP’s sales were $93.3 million.
“We are pleased to complete the acquisition of EWP,” said H.O. Woltz II, president and CEO of Insteel. “This move will expand our geographic footprint and bolster our competitive position in the Midwest market. The acquisition of EWP will enhance our customer service capabilities and drive down operating costs through operational synergies.”
According to documents filed with the Trumbull County auditor, Insteel purchased the building and land on West Market for $7 million on Oct. 22. EWP bought the property from Van Merksteijn USA LLC on Sept. 25, 2014, for $3.25 million, auditor records show.
Insteel is the nation’s largest manufacturer of steel wire reinforcing products for concrete construction applications. Headquartered in Mount Airy, N.C., Insteel operates 12 manufacturing facilities across the United States. These plants are found in Ohio, Tennessee, Texas, Arizona, Pennsylvania, Kentucky, Florida and Missouri, according to its website.
The Warren operations were established in 2008 as Reinforcement Systems Inc. by developer and Warren native Mark Marvin. The development was among the first industrial investments in years on the city’s west side.
Copyright 2024 The Business Journal, Youngstown, Ohio.
