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Liberty Steel Acquires Johnstown Wire Technologies In US

Steel News - Published on Tue, 11 Jun 2019

Image Source: American Wire Producers Association
Liberty Steel has further expanded its footprint in the US steel downstream products market with the acquisition of Johnstown Wire Technologies in Johnstown Pennsylvania, the largest producer of value-added carbon and alloy wire in North America. The acquisition from private investment firm, Aterian Investment Partners, was financed by group equity along with loans from PNC Business Credit and gives Liberty valuable capacity to manufacture a range of high-value carbon and alloy wire products for multiple end markets including the infrastructure, automotive, utility and consumer sectors.

The 250-worker advanced manufacturing facility at Johnstown will complement Liberty’s melting and rolling operations at Georgetown, South Carolina and Peoria, Illinois and, combined with its scrap processing plant in Tampa, Florida, will firmly embed the business along the full value chain in the US steel market.

The 638,000 square foot Johnstown site has been a high-profile steel manufacturing facility for over 100 years and is a top-3 US producer of the types of steel that will be needed to modernize America’s ageing infrastructure- CHQ, electro-galvanized, aluminized and spring wire. JWT currently holds the number one market position in the electro-galvanized and aluminized sectors.

Liberty Steel intends to drive growth at JWT as the US updates its infrastructure and electricity networks, thereby increasing demand for steel products such as support cables and guard rails for bridges and for electrical power lines.

With more than half of JWT’s output sold into the transportation market, Liberty is also aiming to capitalize on continued growth in US vehicle production. It is the third largest producer in the U.S. of CHQ wire, which is used in automotive products such as engine block bolts and brake pad rivets.

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Posted By : Ratan Singh on Tue, 11 Jun 2019
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