NEW YORK Insteel Industries Inc. has purchased a production line from Tatano Wire & Steel Inc. to make reinforcing concrete wire products, chairman, president and chief executive officer H.O. Woltz III told AMM.
The line makes concrete pipe and box culvert reinforcement production equipment. The terms of the deal, which closed April 25, were not disclosed.
Insteel, Mount Airy, N.C., doesnt plan to operate the line in the short term, Woltz said, calling it "a consolidation step in the industry."
"Parts of that product line have grown and parts of it havent. The box culvert part of the product mix has grown reasonably rapidly," he said. "Business for welded wire reinforcing (product) has not grown due to competing (reinforcing) methods, and even competing methods to concrete."
The buy comes as Insteel plans to expand several engineered structural mesh production lines in 2013 (amm.com, April 18).
Houston, Pa.-based Tatano declined to comment.