Ampco-Pittsburgh Buys Alloys Unlimited & Processing
MINERAL RIDGE, Ohio – Alloys Unlimited & Processing Inc., a specialty tool distributor based here, has been acquired by Ampco-Pittsburgh Corp.
Ampco, based in Pittsburgh, announced the acquisition Wednesday. Terms were not disclosed.
Alloys Unlimited operates its 88,000-square-foot distribution center here at 3714 Union St. The company president, Gregory J. Nackino Jr., was in meetings this morning, his office said, and not immediately available for comment.
Alloys Unlimited supplies specialty tool, alloy, and carbon steel round bar to customers locally and nationally. They also provide specialty services such as saw cutting, CNC machining, rough turning and boring, heat-treating, and trepanning.
With the acquisition, the distribution center becomes Alloys Unlimited and Processing LLC, a newly formed subsidiary of Union Electric Steel Corp. in Ampco’s forged and cast engineered products segment.
Said the CEO of Ampco, John Stanik, in a prepared statement, “The acquisition of this business provides a platform to support our forged engineered products group and grow the tool steel and specialty steel product lines which serve diverse end markets. We believe this business has growth opportunities and will benefit from our larger sales force. When combined with our ability to build a fast response distribution center with expanded product offerings, it will enable us to better serve our customers in this market.Ampco-Pittsburgh, a public company traded on the New York Stock Exchange, produces forged and cast rolls for the worldwide steel and aluminum industries as well as ingot and open die forged products for the oil and gas, aluminum and plastic extrusion industries.
Shares of the company’s stock fell to a 52-week low Wednesday, down to $13.31 with 14,451 shares trading hands. The 52-week high is $22.28.
Pictured: Alloys Unlimited and Processing LLC distribution center at 3714 Union St. in Mineral Ridge.
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