Niles Iron & Metal Sold to Wisconsin-Based Manufacturer
NILES, Ohio – Family-owned Niles Iron & Metal Co. LLC, which operates two scrapyards in the city, has been sold.
The details of the purchase were not disclosed. According to Charter Manufacturing, which was the purchasing company, Niles Iron & Metal will continue its current operations.
“We are thrilled to welcome Niles Iron & Metal into the Charter family,” John W. Mellowes, CEO of Charter Manufacturing, said in a news release announcing the acquisition. “Their long-standing reputation for excellence and commitment to customer service aligns perfectly with our values and strategic objectives.”
In its announcement, Charter said the partnership with Niles Iron & Metal is an opportunity for mutual growth and learning, which will allow both to continue to excel in their respective areas. Niles Iron & Metal is a leader in the recycling of ferrous and nonferrous scrap, and Charter is a leader in creating a variety of metal products.
Niles Iron & Metal, which celebrated its 100th anniversary in 2017, has a 52-acre ferrous metal and paper scrapyard on South Main Street and another location on West Federal Street that accepts nonferrous items for recycling. Before the sale, Niles Iron & Metal was owned by the fourth generation of the Clayman family, which founded it.
According to its website, Charter, which is also a family-owned company, is made up of a group of differentiated metals manufacturing businesses founded in 1936 and headquartered in Mequon, Wis. The company employs more than 2,300 at its corporate location and four businesses – Charter Aarrowcast, Charter Dura-Bar, Charter Steel and Charter Wire.
Charter Steel, which has locations in Suakville, Wis.; Cleveland, Ohio; and Fostoria, Ohio, is a supplier of carbon and alloy rod and wire products in both boil and cut-length bars. Charter Wire, based in Milwaukee, Wis., is a supplier of cold heading steel, rolled bars, engineered shaped wire and stamped components. Charter Dura-Bar is a producer of cast iron bar products in Woodstock, Ill.; Salisbury, N.C.; York, Pa.; and Fort Worth, Texas. Charter Aarrowcast in Shawano, Wis., produces gray and ductile iron castings for various industries.
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