SAWHILL TUBULAR Maneely acquires 3 plants
The new owners intend to keep the plants operating.
SHARON, Pa. -- The Sawhill Tubular plants in Sharon, Wheatland and Howland Township are now a part of the Wheatland Tube family.
Wheatland's parent, the John Maneely Co. in Collingswood, N.J., announced the purchase of the Sawhill Tubular Division of AK Steel Corp. and said the three plants will become a part of the Wheatland Tube Co.
AK Steel and the Maneely Co. announced in December that a sales agreement had been reached and the package was finalized Friday.
No sale price was disclosed.
AK Steel said Sawhill's pipe and tube product line didn't fit with its long-range strategy.
"We are excited at the opportunity to expand our product lines, increase our production capacity and provide a full complement of products to our customers," said Peter S. Dooner, president and chief operating officer of the Maneely Co.
"As a 125-year-old family-owned pipe and tube producer, our success comes primarily from the efforts of our hardworking and dedicated employees. We welcome our new employees to the Wheatland Tube Co. team as we strive for continuous improvements in all facets of our operations," he said.
Wheatland Tube employs about 600 at its Wheatland plant, and the three Sawhill operations will add about 750 more.
William Kerins, vice president of operations at Wheatland Tube, said in December that Maneely was buying the Sawhill operations planning to run ongoing businesses.
There are no plans to close any of the Sawhill facilities.
Sawhill's Sharon plant produces the same products as Wheatland Tube, but Wheatland Tube needs the extra capacity the Sawhill plant will provide, he said.
Products produced at Sawhill's Wheatland and Howland Township plants will complement the Wheatland Tube product line, Kerins said.
The John Maneely Co. expressed interest in buying the Sawhill plants in 1999, trying to work out a deal with then-owner Armco Inc., but couldn't reach an agreement.
AK Steel bought Armco instead but later decided to divest itself of the Sawhill Division, opening the door again for the Maneely Co.