Esmark forms industrial group, buys machine shop

Dec 30, 2009 | 07:52 AM | Corinna Petry

Esmark Industrial Group, a newly formed subsidiary of Esmark Inc., has acquired the assets of Excalibur Machine Co. Inc. for $3.5 million.

Meadville, Pa.-based Excalibur is a precision machining and fabrication firm that supplies parts, subassemblies and material handling equipment to original equipment manufacturers (OEMs) in the transportation, material handling, heavy construction and power generation industries.

The acquisition will save about 50 jobs, including senior management, and provide working capital financing to grow the business and increase employment opportunities in the Meadville area, said James P. Bouchard, chairman of Chicago-based Esmark Inc.....

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