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Hot Off the Press
ISO Certifications Announced
Friday, March 15, 2002
Metal stamper Three Star Mfg. Co., Inc., Westchester, IL, has earned ISO 9002 certification.
Progressive Tool Company, Waterloo, IA, has been certified to ISO 9001:2000. The firm designs, engineers and builds custom metal-stamping and transfer dies.
Metals USA Sells Some Assets
Friday, March 15, 2002
Metals distributor and processor Metals USA, Inc., Houston, TX, has sold its Specialty Plates and Shapes operations to ALRO Inc., Jackson, MI. The sale involves plants in Broadview, IL, and in Hazel Park and Grand Rapids, MI. In addition, Metals USA recently closed the sale of its facilities in Salisbury, NC, and Newark, NJ, to Wells Manufacturing Co., Dura-Bar Division, Woodstock, IL, a producer of continuous-cast bar stock. Visit the company on the web at
www.metalsusa.com.
Finn-Power Purchased by Private Equity Fund
Thursday, March 14, 2002
Lillbacka Corp. and the Finn-Power sheetmetal-working technology business, a supplier of flexible and automated sheetmetal-fabricating machines and manufacturing systems, has been acquired by EQT Northern Europe Ltd., a private equity fund manager. EQT intends to take Finn-Power public in four to five years. Finn-Power, owned previously by founder and CEO Mr. Jorma Lillbacka, operates manufacturing and R&D facilities in Finland, Belgium and Italy and in the United States (in Schaumburg, IL). Lillbacka remains a board member of Lillbacka Corp., and remains owner of his swaging technology and logistics businesses and companies. The acquisition is not expected to affect Finn-Power's service to customers in North and South America. Read more at
www.eqt.fi/pressroom.
