Ampco-Pittsburgh Corporation Announces Acquisition of Alloys Unlimited & Processing, Inc.
July 29 2015 - 4:33PM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150729006749/en/
Ampco-Pittsburgh CorporationRose Hoover, 412-456-4418Executive
Vice Presidentrhoover@ampcopgh.com
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