NEW YORK Böhler-Uddeholm Canada Ltd., a subsidiary of Linz, Austria-based Voestalpine Group, has acquired tool and mold steel distributor and processor Sturdell Industries Inc. for an undisclosed sum.
Sturdell, which specializes in the machining of mold steel, is headquartered in Rexdale, Ontario, and has a second location in Rochester, N.Y., according to a statement by Voestalpine.
The company has 80 employees and most recently posted positive operating results and annual revenues equivalent to more than 19 million euro ($24.6 million).
This acquisition expands the special steel divisions service portfolio in Canada and the northeast of the United States of America and effectively enhances our already very good market position in North America, Franz Rotter, member of Voestalpines management board and head of its special steel division, said in the statement.
The move further underlines Voestalpines commitment to the North American market after it recently announced plans to build a $62-million auto body parts manufacturing facility near Cartersville, Ga. (amm.com, Aug. 17
In addition to the Sturdell buy, Voestalpine is undertaking a substantial investment project at its Canadian facilities, focusing on the expansion of facilities for heat treatment and surface refinement. The new facilities will start up operations in the near future, the company said in the statement.