Quanex unit purchases metal heat treating firm
MACSTEEL, a unit of Quanex Corp., has acquired the assets of Atmosphere Annealing Inc., a wholly owned subsidiary of Maxco Inc.
AAI is a metal heat treating company with four plants located in the Midwest and fiscal 2006 sales of $46.6 million. AAI specializes in high-volume, ferrous heat treating services for customers focused on automotive applications.
“AAI, which focuses primarily on vehicular powertrain, steering and brake system components, serves many of the same customers as MACSTEEL,” said Raymond Jean, Quanex chairman and CEO. “In addition, half of AAI’s new business is with the automotive transplant manufacturers, which should boost MACSTEEL’s penetration of this growing market.”
Houston-based Quanex manufactures engineered materials and components for the vehicular products and building products markets. Maxco is based in Grand Ledge, Mich.
Published February 2, 2007 by the Houston Business Journal