Flow International Corporation (Nasdaq: FLOW) has today announced that it has entered into a definitive agreement to be acquired by American Industrial Partners (AIP), a North American-based private equity firm, in a transaction valued at more than $200 million.
Successful metal fabrication companies are always on a mission to improve their lead times to cut down on operating costs and to increase customer satisfaction. Many managers may try to analyze what the company does or doesn’t need, or which of the available suppliers might be cheaper and/or faster, yet provide them with their company’s specific needs without sacrificing quality in their products.
The U.S. Department of Transportation’s Federal Transit Administration (FTA) today announced a new Interagency Agreement with the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) that will make it easier for manufacturers and transit agencies to identify domestically made products, such as rolling stock and other steel and iron components that comply with FTA’s “Buy America” rules.
Headquartered in Columbus, Ohio, Laserflex will expand its South Carolina operations by moving to a new, 63,000-square-foot building in Wellford, which will increase the company’s manufacturing space by 23,000 square feet. The expansion will allow Laserflex to add a range of new operations, including machining, paint and laser tube cutting.
Gov. Bobby Jindal and Benteler Steel/Tube marked the start of construction Monday with a groundbreaking on the company's new $975 million hot rolling seamless steel tube mill in Caddo Parish. The facility will create more than 1,000 construction jobs and an estimated 675 full-time jobs when the facility is at full production capacity.
With the success of the inaugural event in 2012, FABTECH Canada will be back in Toronto in 2014, more expansive than before. The only event of its kind in this country, FABTECH Canada brings the most relevant and important information on industry standards, new products and latest technologies to the Canadian market.
Metals maker Allegheny Technologies Inc. plans to sell its tungsten materials business for $605 million to Kennametal Inc. The Pittsburgh company said Monday that the deal gives it better financial flexibility as Allegheny Technologies, or ATI, focuses on growth opportunities in its high-performance metals and flat-rolled products segments.
Complete Heat Treating, LLC has announced its acquisition of all assets and equipment of the former Wisconsin Steel Industries, Inc. With the completion of this acquisition, Complete is breaking into the commercial heat treating market in the Midwest, as the combined companies have more than 75 years of service in the metalworking industry.
I would invest training in current employees. These are the people who have helped build our company. At Miller, our average seniority is 19 years with less than two percent turnover. We believe in giving people the chance and the skills to build their careers and want to continue to see them grow.
At General Motors’ Tonawanda Engine Plant in Buffalo, N.Y., a $400 million investment in advanced manufacturing techniques will allow the company to produce 1,000 Gen 5Small Block engines daily — a 4.3L V-6, 5.3L V-8 and two variants of a 6.2L V-8.
Gov. Bob McDonnell announced Thursday that W&B Fabricators Inc. will invest $3.1 million in the operation. The company has operated in Mercer County, W.Va., for more than 24 years and provides services to major coal operators throughout Virginia, West Virginia, Kentucky and Pennsylvania.
The expansion is expected to be complete in the spring, and Service Center Metals also is adding about 20 jobs. It currently employs about about 120 people. Service Center Metals makes aluminum rods, bars and tubing used in various industries including machinery and equipment, transportation and consumer products.
TMS International Corp. said Monday that it's selling itself to members of the Pritzker family in a cash deal it valued at about $1 billion including refinanced third-party debt. Pittsburgh-based TMS provides outsourced industrial services to steel mills. It operates 81 customer sites in 12 countries, along with 36 brokerage offices from which it buys and sells raw materials.
BHP Billiton said its annual profit dived nearly 30 percent as slower growth in China and other emerging economies resulted in lower prices for copper, coal and iron ore. The mining company on Tuesday reported a $10.9 billion profit for the year ended June 30, down 29.5 percent from the previous year.
June U.S. cutting tool consumption totaled $155 million, according to the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 6.6 percent from May and down 12.8 percent from the June 2012 level of $195 million.
A coroner says a man has died of multiple blunt-force trauma injuries after being caught in a piece of equipment at a northeastern Indiana steel plant. Whitley County Coroner F. Randall Dellinger says 44-year-old Jeffery Flory of Albion died in the accident Monday night at the Steel Dynamics plant in Columbia City, about 20 miles west of Fort Wayne.
A legislator wants a chunk of the collapsed interstate bridge to remind him of the dangers of neglected infrastructure. Survivors have sought the crumpled steel as mementos of that deadly day in Minneapolis six years ago on Thursday. Civil engineering instructors and historians see value in the wreckage, too.
Fives has announced its acquisition of MAG Americas by bringing onboard three more of its brands — Cincinnati, Giddings & Lewis and Forest-Liné. The company says its recent purchase will help it strengthen its position in aerospace, renewable energy and mining equipment by increasing its capacity to manufacture the high-precision machine tools used to manufacture complex or high-performance equipment.
Tailored to the skill sets required for tool and die makers and various spring coiler setup operations, CSS’ program replaces formerly state-funded training for skilled manufacturing workers. A diverse group of eleven people are currently enrolled in the program, including five minorities and two women.
The ExOne Company has announced that it is adding iron infiltrated with bronze as a new 3D printing material, in addition to an increase in its suite of binder solutions for its 3D printing process. The company hopes that its direct metal printing capabilities will increase opportunities in the industrial marketplace.
Germany's antitrust regulator said Tuesday that it has fined eight companies a total of 97.6 million euros ($129 million) for colluding on orders for railway tracks and related products.ThyssenKrupp GfT Gleistechnik GmbH, a unit of steelmaker ThyssenKrupp AG, was hit with the biggest single fine.
The government expects loan recipients "to purchase steel, iron and other manufactured goods produced in the United States for their projects," LaHood wrote in the two-page letter to the company, which was released by the agency Tuesday.
The survey found that almost half of the nearly 900 executives surveyed are still in the initial stages of their compliance efforts, while 16 percent have not yet begun gathering information, and 32 percent are still determining if the rule even applies to them.
ArcelorMittal, the world's largest steelmaker, has abandoned plans for an $8.5 billion steel plant in eastern India in the second major blow this week to the government's efforts to lure foreign investment. Its decision came a day after South Korean steel giant Posco dropped plans for a steel plant in southern Karnataka state.
South Korean steel giant Posco has pulled out of a proposed $5.3 billion steel plant in the southern Indian state of Karnataka in a new blow to government efforts to attract foreign investment to spur growth. The company said Tuesday it scrapped the project because of inordinate delays stemming from local opposition to land acquisition for the project.