LOS ANGELES ONeal Industries Inc. has moved further into specialty metals with the acquisition of Vulcanium Metals Inc., further reducing the number of independent distributors of titanium alloys.
Birmingham, Ala.-based ONeal said it has purchased the assets of privately held Vulcanium, Northbrook, Ill., through its United Performance Metals Inc. (UPM) subsidiary, a Hamilton, Ohio, distributor of specialty stainless steel and high-temperature alloy sheet and coil products.
The Vulcanium acquisition is a "natural extension" of UPMs business, UPM president Tom Kennard said. The company also has a stocking facility in Belfast, Northern Ireland, and carries titanium sheet, plate, block and bars and performs a variety of first-stage processing operations, including leveling, shearing, sawing and laser and water-jet cutting. It supplies the aerospace and medical markets. The financial details of the transaction were not disclosed.
Vulcanium is a "very well run company with a strong reputation in the marketplace," UPM executive vice president Annette Tiesman told AMM, adding that titanium is "strongly complementary" to UPMs line of stainless steel, nickel and cobalt alloy sheet and coil.
Moreover, Vulcanium will aid UPMs expansion into Europe through its Belfast location and also give it a greater presence in the Midwest, Tiesman said.
The expanded resources of UPM and the chance for "increased collaboration" as the result of the acquisition "strengthen our outlook for growth," Vulcanium president Jerry St. Clair, who will continue to direct the companys operations, said in a statement.
The acquisition further pares the number of independent domestic alloy titanium distributors. Two of the most prominent among the remaining are Rockaway, N.J.-based Titanium Industries Inc. and President Titanium Co. Inc., Hanson, Mass.
Even Rockaway, N.J.-based Titanium Industries Inc., once considered the largest titanium-only distributor, has been diversifying over the past seven years into nickel-based, stainless and other alloys. Earlier this year it estimated that non-titanium products accounted for about 40 percent of its business.
President Titanium, however, has remained a titanium-only house, relying on its market niche and a policy of buying only domestic product, according to sources.