Engineered Wire Products sold, Warren site included
WARREN — Insteel Industries Inc., a North Carolina-based manufacturer of steel wire reinforcing products for concrete construction, has acquired an Upper Sandusky welded wire maker that has a factory in Warren.
The deal between an Insteel subsidiary, Insteel Wire Products Co., and Engineered Wire Products Inc. is for $70 million, according to a news release.
Engineered Wire Products operated a plant at 3121 W. Market St., Warren, across from the former Austin Village Plaza.
The factory was built in late 2009 / early 2010 by Warren native Mark Marvin and operated as Reinforcement Systems Inc. before it was sold to Dutch interests.
It was sold again in 2014 for $3.25 million to Engineered Wire Products, according to the Trumbull County Auditor’s Office, which also shows Insteel acquired the facility for $7 million on Oct. 22.
Engineered Wire Products manufacturers welded wire reinforcement products used in nonresidential and residential construction. For a 12-month period that ended Sept. 30, the company’s sales were $93.3 million, the release states.
“This move will expand our geographic footprint and bolster our competitive position in the Midwest market,” H.O. Woltz III, president and chief executive of Insteel, said in the release. “The acquisition of EWP will enhance our customer service capabilities and drive down operating costs through operational synergies.”
Insteel manufactures and markets PC strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement. Its products are sold primarily to manufacturers of concrete products that are used in nonresidential construction.
The company, headquartered in Mount Airy, North Carolina, operates 12 manufacturing facilities in the U.S.