Hot Off the Press
AddisonMckee Under New Ownership
Tuesday, March 01, 2005
Led by WHI Capital Partners, Chicago, IL, a group of investors has acquired AddisonMckee, Preston, England, and Wilmington, OH, a manufacturer of CNC tube benders, tube end formers and tooling. It serves the automotive, aerospace, furniture and ship-building markets. Learn more at www.addisonmckee.com
Steel Imports Decline Again
Monday, February 28, 2005
The Department of Commerce (DOC) reports that steel imports for January 2005 dropped to 2.2 million metric tons, an 18 percent decline compared to December 2004, the fourth straight month of declining imports. Precision Metalforming Association president William E. Gaskin, commenting on the DOC report, also notes that imports of hot-rolled sheets, the products most used by PMA members, also declined for the fourth straight month, to 0.2 metric tons, a 6-percent decline compared to December. Gaskin used the news on steel imports to renew PMA’s call for the lifting of duties on hot-rolled steel, and will testify, along with representatives from PMA member companies, in Washington D.C. on March 2 at the sunset review hearing of the International Trade Commission. The hearing will address whether to terminate or continue antidumping/countervailing duties on hot-rolled steel from Japan, Brazil and Russia beyond the five years they have already been in place.
Three Companies Become One for Parts Cleaning
Friday, February 25, 2005
Magnus Equipment, Willoughby, OH, has acquired Pro-Fab Manufacturing and Power Sonics, and renamed the new company MPP, under the ownership of Reid Assets Management, Cleveland, OH. MPP provides engineered equipment, systems and components to companies that require parts cleaning, chemical treatment, plating and processing. Magnus specializes in immersion cleaning. Power Sonics manufactures magnetostrictive ultrasonic equipment for aqueous cleaning. Pro-Fab makes custom corrosion-resistant plastic tanks, scrubbers and ductwork.