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INSTEEL ANNOUNCES PLANS TO BUILD $10-MILLION PLANT TO PRODUCE NEW WIRE PRODUCT LINE

 INSTEEL ANNOUNCES PLANS TO BUILD $10-MILLION PLANT
 TO PRODUCE NEW WIRE PRODUCT LINE
 MOUNT AIRY, N.C., Oct. 14 /PRNewswire/ -- Insteel Industries, Inc. (AMEX: III), one of the nation's largest producers of wire and wire products, today announced plans to construct a new plant for production of prestressed concrete strand (PC strand). The facility, which will be constructed on land owned by the company in Gallatin, Tenn., will be equipped with state-of-the-art wire drawing, stranding, stabilizing, and packaging equipment. The $10-million facility will have an initial capacity of approximately 40,000 tons per year. Startup of operations is planned for the summer of 1993.
 PC strand is used as a reinforcement in both pretensioned and posttensioned prestressed concrete construction for structural members, bridges, buildings, parking decks, pilings, railroad ties, and utility poles.
 H.O. Woltz III, Insteel president and chief executive officer, stated, "Our entry into the PC strand market reflects our strategy of growing in wire products markets where we believe we can develop a competitive advantage. The product fits our company well from a commercial and a manufacturing standpoint, and we expect the market to grow considerably through the 1990's."
 The construction of the new facility is part of a two-year, $20-million capital spending program being undertaken by Insteel Industries to increase the breadth of its product offerings and to update and expand its capacity with new, state-of-the-art equipment. These investments will enhance Insteel's position as a low-cost, high-quality producer of wire and wire products, Mr. Woltz said.
 Insteel Industries, Inc., produces welded wire reinforcement, galvanized fencing products, specialty wire fabrics, industrial wire, nails, and the Insteel 3-D(TM) panels.
 -0- 10/14/92
 /CONTACT: Howard O. Woltz Jr., chairman of the board of Insteel, 919-786-2141/
 (III) CO: Insteel Industries, Inc. ST: North Carolina, Tennessee IN: MNG SU:


GK-OS -- NY019 -- 9742 10/14/92 09:51 EDT
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Publication:PR Newswire
Date:Oct 14, 1992
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