Ampco-Pittsburgh Corp. announced the acquisition of ASW Steel Inc., a specialty-steel producer based in Welland, Ontario, for approximately $13.1 million. ASW will be an indirect subsidiary of Union Electric Steel Corp., a wholly owned operating subsidiary of Ampco-Pittsburgh. Union Electric Steel is a leading producer of forged and cast rolls for the global steel and aluminum industries, as well as ingot and open-die forged products for the oil and gas industry.
John Stanik, Ampco-Pittsburgh’s CEO, said, “ASW’s proven broad expertise in flexible steel refining methods will provide us with the capabilities to manufacture the additional chemistries needed to expand our reach in the open-die forging market.”
Tim Clutterbuck, president of ASW Steel, said, “Our combined capabilities will offer forgers, ring rollers, and rolling mills a high-quality supplier with the broadest range of specialized steel products in the marketplace.”