NEW YORK Pennex Aluminum Co. has agreed to restart Ilsco Extrusions Inc.s (IEI) idled billet casting facility in Greenville, Pa.
The alloyed aluminum billet casting operation, once part of the former Signature Aluminum Inc., was purchased by IEI parent company Ilsco Corp. in 2010 (amm.com, July 2, 2010).
The facility previously produced more than 100 million pounds per year, the companies said separately in announcing the deal.
Under the terms of the agreement, Pennex will acquire the billet production assets and signed a long-term lease agreement to operate within the IEI manufacturing complex in Greenville, IEI said.
"The Greenville billet casting facility will enhance our capabilities to serve our long-term customers and prospective customers, as well as our growing internal needs. We are very excited to team up with (IEI) to restart this well-established casting facility," Rick Merluzzi, president and chief executive officer of Pennex, said in a statement.
Billet production is expected to begin in the second quarter, IEI said.
The facility can produce 10- and 6-inch diameter billet. This will be in addition to Pennexs current range of products, which include 7-, 8-, 9- and 14-inch diameter billet.
Pennex Aluminum, which is owned by Metal Exchange Corp., already has operations in Wellsville and York, Pa., and Leetonia, Ohio.