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Art's Way Manufacturing Co Inc Closes Acquisition Of Assets Of Ohio Metal Working Products Company


Thursday, 3 Oct 2013 03:06pm EDT 

Art's Way Manufacturing Co Inc announced they have closed the acquisition of the assets of Ohio Metal Working Products Company. As previously announced on September 23, 2013, Ohio Metal Working Products Company was to sell to Art's Way Manufacturing Co., Inc. the operating assets of Ohio Metal Working Products Company, doing business as American Carbide Tool Company. Ohio Metal Working Products Company is domestic manufacturer and distributor of standard single point brazed carbide tipped tools. They also provide PCD (polycrystalline diamond) and CBN (cubic boron nitride) inserts and tools. They have over 50 years of tool making experience. The total purchase price was approximately $3,172,000, and the purchased assets include fixed assets, real estate, inventory and intangible assets. A new wholly-owned subsidiary of Art's Way was formed, Ohio Metal Working Products/Art's-Way, Inc. New facility is located at 3620 Progress Street NE, Canton, Ohio. The acquisition was financed through Art's Way's existing line of credit with US Bank. 

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5.72
0.4 +7.52%
1 May 2015