Page 10 - MetalForming February 2017

News Fronts
markets, according to compa- ny officials.
part of Wells Fargo & Co. “We are very excited to be
Michigan and Ohio, serving hundreds of customers across a variety of industries includ- ing automotive, truck, heavy equipment, agriculture, lawn and garden, tanks, construc- tion, furniture and other steel service centers.
conducive properties to a vari- ety of materials.
“Master Magnets Ltd. per- fectly complements Bunting Magnetics in terms of innova- tion, quality, products, and pro- viding magnetic solutions through individual components and complete systems,” says Bob Bunting, president and CEO of Bunting Magnetics.
working with a great company such as Wells Fargo, that pro- vided us with a credit facility that will allow us to build upon our own business momen- tum,” says Tim Berra, presi- dent of Heidtman Steel Prod- ucts. “We were greatly impressed with the vast knowl- edge the Wells Fargo team had about our industry and how quickly they understood our business. This new credit facili- ty is a significant step forward for our company, providing us with the resources and flexibili- ty to successfully navigate through the cyclical demands of our business and enable our strategies for profitable business growth.”
Industry Veteran Acquires Aisco Metallizing
Caprio was the vice presi- dent of business operations for the Cuyahoga Valley Scenic Railroad before acquiring Aisco, Prior to that, he spent five years with Morgan Advanced Materials as busi- ness unit manager then as general manager. Caprio suc- ceeds George Stecz, who pur- chased Aisco in 2006 and will remain as an advisor through the ownership transition.
Simon Ayling, managing director of Bunting Magnetics Europe, will assume opera- tions-management responsi- bility of this new division.
D. Gary Caprio recently pur- chased the operations and facilities of Aisco Metallizing Corp., a Cleveland, OH-based industrial operation specializ- ing in thermal-sprayed metal- lic and alloy coatings to sur- face-coat and repair parts used in industries such as construction, automotive, tire, rubber and steel production. Besides extending the life of structural parts, metallization can apply electrically, thermal- ly and chemically resistive or
“I worked with and man- aged industrial companies my whole career,” says Caprio. “Aisco is a fine company with tremendous employees and capabilities. I look forward to honing my engineering and materials background in my new role and am eager to share my expertise in plant safety, finance, administration,
$185 Million Credit Facility for Heidtman Steel Products
To support its working-capi- tal needs, steel processor Hei- dtman Steel Products Inc. obtained a $185 million credit facility through lead arranger Wells Fargo Capital Finance,
Heidtman Steel operates nine direct or joint-venture facilities in Indiana, Illinois,
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8 MetalForming/February 2017
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