Miller centrifugal casting company sold to Austrian firm.
According to a press release issued by the company, MCC will continue to operate under its current name but will have an expanded global presence under roll and sheet caster ESW. Terms of the sale were not disclosed.
"This acquisition reflects a strategic growth initiative enabling ESW and MCC to pursue new and emerging global market opportunities in the metals sector," said MCC President Ian Sadler. "The combination of their technological strengths and dominant market positions yields superior capacity for expansion and long-term sustainability. Additional capital investment by ESW is anticipated at MCC, as well as the creation of new jobs in the future."
ESW produces rolls for the steel industry and currently exports to more than 50 countries. MCC centrifugally casts steel mill sleeves used in the production of long products, as well as large gear blanks used in the power generation, metal, mining and construction equipment markets. It had estimated revenues of $21 million in 2008.
According to the MCC release, it will retain all of its 47 employees.
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|Title Annotation:||North America|
|Date:||Sep 1, 2009|
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