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.