Ampco-Pittsburgh Corporation Announces Acquisition of Alloys Unlimited & Processing, Inc.
By Business Wire News
By Business Wire News
Ampco-Pittsburgh Corporation (NYSE: AP) today announced the acquisition of the business and assets of Alloys Unlimited & Processing, Inc., a leader in supplying specialty tool, alloy, and carbon steel round bar to customers locally and nationwide since 1990. They are also a provider of specialty services including precision saw cutting, CNC machining, rough turning and boring, heat treating, and trepanning.
Alloys Unlimited and Processing, LLC is the newly formed subsidiary of Union Electric Steel Corporation in the Forged and Cast Engineered Products segment of Ampco-Pittsburgh Corporation. Union Electric Steel is a leading global producer of forged and cast roll products used by the ferrous and non-ferrous rolling mill industry. Union Electric is also a leading producer of ingot and open die forged products which are used in the domestic oil and gas, aluminum, and plastic extrusion industries.
John Stanik, Chief Executive Officer of Ampco-Pittsburgh Corporation, stated: “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.”
About Ampco-Pittsburgh Corporation
Ampco-Pittsburgh Corporation, through its operating subsidiaries, is a leading producer of 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. It is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems and centrifugal pumps. Ampco-Pittsburgh Corporation operates manufacturing facilities in the United States and United Kingdom, with sales offices in the United States, United Kingdom, and Belgium.Corporate headquarters is located in Pittsburgh, Pennsylvania.
The matters discussed herein may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from expectations. Some of these risks are set forth in the Corporation’s Annual Report on Form 10-K as well as the Corporation’s other reports filed with the Securities and Exchange Commission.
Rose Hoover, 412-456-4418
Executive Vice President