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Steel Technologies to Purchase
Ohio Cold-Rolled-Strip Facility

Wednesday, March 19, 2003
 
Steel technologies Inc., Louisville, KY, announced that it has agreed to acquire the Ottawa, OH, cold-rolled-strip facility of Cold Metal Products Co. and other assets for about $10 million. “The Ottawa facility was expanded in 1996 and has a broad range of rolling, annealing and oscillating capabilities,” said Bradford T. Ray, chairman and CEO of Steel technologies, noting that the plant has an excellent reputation for producing and servicing cold-rolled strip for precision applications. He hopes the operation will broaden company capabilities and complement its other cold-rolled-strip facilities. Steel technologies processes flat-rolled steel to specified thickness, width, temper, finish and shape requirements for a variety of markets. For more, visit www.steeltechnologies.com.

Ontario Announces Five-Year
Investment in Auto Sector

Tuesday, March 18, 2003
 
The government of Ontario, Canada, announced it will invest $625 million over five years in the auto sector. The investment, reported by the Toronto Globe and Mail, is designed to create jobs and make development and training money more available to those in the industry. The investment comes as automakers claim that government monies and support are needed to keep future auto projects in Ontario and other provinces. For example, DaimlerChrysler officials say the carmaker wants to build a new assembly plant in Ontario, but may instead opt for Mexico should agreements not be reached with Canadian governments and suppliers.

Saginaw Products Changes Name to Cignys

Tuesday, March 18, 2003
 
Cignys is the new name for the former Saginaw Products Corp., Saginaw, MI, a designer, manufacturer and distributor of products and services to aerospace, automotive and other markets. Products include material-handling equipment, prototype stampings and tooling, special machines, custom machine components, ground-support equipment for the aerospace industry, special military products and wear materials for the extrusion and casting industries. Company subsidiaries including Shear Tool, Shields Manufacturing, Saginaw Caster & Wheel and U.K.-based Aims Ltd. will operate under the Cignys name.

 

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