Press Room - Important Announcement
- Created on Wednesday, 02 December 2015 13:00
December 2, 2015
Dear Valued Customer
I want to inform you that Ampco-Pittsburgh Corporation, the corporate parent of Union Electric Steel Corporation, has entered into a definitive agreement to acquire Åkers AB and certain of its affiliated companies. Headquartered in Åkers Styckebruk, Sweden, Åkers AB has been a leading producer of cast and forged rolls since 1806. The company has manufacturing facilities in the United States, Europe and China, with sales representation and technical support in place that spans the globe.
This acquisition is a significant step in Ampco-Pittsburgh’s ongoing growth, which will complement Union Electric Steel’s ability to offer reliable, high-performance products combined with unparalleled technical support and responsiveness. This is a bold step into the future for our company. This acquisition will create one of the world’s largest roll companies and enable us to offer an expanded product line to customers in every global region. We are very excited about bringing together the best of forged and cast roll technology and manufacturing expertise of Union Electric Steel and Åkers to our customers.
The acquisition is subject to customary regulatory approvals and closing conditions. Closing is expected to occur in the first quarter of 2016. Until then, business will continue as usual. A Union Electric sales representative will be in contact with you shortly to keep you abreast of the situation.
As always, thank you for your business and we look forward to continuing to share with you exciting and innovative products and solutions we are bringing to market.
Robert G. Carothers
Union Electric Steel Corporation, CEO