Hot Off the Press
Record Finished-Steel Imports in 2015
Wednesday, February 10, 2016
Based on preliminary U.S. Census Bureau data, the American Iron and Steel Institute (AISI) has reported that 2015 total and finished steel imports were 38,718,000 and 31,425,000 net tons, respectively, down 13 and 7 percent, respectively, versus 2014. Finished-steel import market share was an estimated 26 percent in December and is estimated at a record 29 percent for the full year.
For December 2015, AISI reports that the United States imported a total of 2,323,000 net tons of steel, including 2,017,000 net tons of finished steel, down 5.3 percent and up 3.2 percent, respectively, versus November.
Phoenix Manufacturing Acquired by Turnkey Processing Solutions
Tuesday, February 09, 2016
Turnkey Processing Solutions, LLC (TPC), Warrenville, IL, has purchased Phoenix Manufacturing, an industrial OEM/custom fabrication company. Phoenix Manufacturing currently employs 32 people and operates manufacturing facilities in Cole Camp and Glasgow, MO. The facilities will continue to operate under the Phoenix Manufacturing brand.
In addition to the purchase of Phoenix Manufacturing, TPC plans to expand its operations in both Cole Camp and Glasgow to include 45 new jobs created over the next two years via a capital investment of more than $1.25 million.
For more on Phoenix Manufacturing, visit www.phoenixmfginc.com
Laser Mechanisms Buys Laser System, Component Maker
Monday, February 08, 2016
Laser Mechanisms, Inc., Novi, MI, announced that it has acquired Livonia, MI-based Visotek, developer and manufacturer of turnkey laser systems and peripheral components. Visotek produces its Smart Laser Tools line that company officials say will simplify the use of lasers in any environment. The acquisition is expected to complement Laser Mechanisms' core business of providing laser-beam delivery products. Visotek will continue to operate as an independent entity in support of its existing customer base.
For more on Laser Mechanisms, visit www.lasermech.com