Page 8 - MetalForming April 2017
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The stainless-steel plate mill in New Castle, IN, previ- ously owned by Finland-based Outokumpu, now operates as New Castle Stainless Plate, LLC. The mill and its assets were purchased from Out- okumpu by the mill’s current management team and a pri- vate equity company, D’Orazio Capital Partners, LLC.
Schuler Sells China Tech Center to Feintool
The Schuler Group has sold its technology center in the North Chinese city of Tian- jin to Swiss company Feintool, which plans to produce preci- sion components for the auto- motive industry in Tianjin using Schuler presses.
Michael Stateczny, presi- dent of New Castle Stainless Plate, LLC, led the acquisition team that included five other members of the plant’s senior leadership. All six become minority owners in the new business and will continue in their management roles.
“Since its launch in 2014, our center in Tianjin has been very well received by the mar- ket,” says Schuler CEO Stefan Klebert. “Local demand for Schuler to produce automo- tive components in China grew strongly in 2016 in par- ticular. We have therefore achieved our strategic target of inspiring customers in China to use Schuler technolo- gy. However, our core busi- ness is the production of plant and machinery rather than vehicle components and we are, therefore, happy to have found a strong buyer in Fein- tool that can now take this task to the next level.”
News Fronts
Business Notes
Outokumpu in IN Now New Castle Stainless Plate
Bystronic provides laser- cutting, waterjet-cutting and press-brake systems as well as related automation, soft- ware and training.
with a central location in Tenessee, will be the key con- tact for the region.
“This mill is recognized for producing world-class special- ty and standard grades of stainless steel,” Stateczny says. “We are committed to continuing this legacy. Our team, including our leaders, managers and mill employees, will remain intact.”
The operation provides specialty and standard grades of stainless-steel plate in some of the widest, thickest and longest dimensions in North America, according to company officials.
Alexander von Witzleben, chairman of the board of Fein- tool, explains that Feintool’s investment in China was in response to customer demands for global presence. “This will enable use to close a strategic gap in Asia,” he says.
New Bystronic Distributor in TN, AL and MS
Bystronic Inc., Elgin, IL announces new distributor representation in Tennessee, Alabama and Mississippi with the expansion of On Point Solutions Co., a Bystronic dis- tributor since 2012. Jordan Peterson, On Point Solutions VP of sales and marketing,
Feintool will retain all 30 or so employees and the infra- structure of the plant in Tian- jin, as well as existing cus- tomer orders, and plans to expand production at the plant through 2017.
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MetalForming/April 2017
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