Iowa Laser Technology, Inc. Acquisition
3 January 2012
For Immediate Release
BIRMINGHAM, AL — O’Neal Industries announced today the acquisition of Iowa Laser Technology, Inc., a manufacturer of fabricated metal assemblies and components operating out of a single facility in Cedar Falls, Iowa. The addition of Iowa Laser represents a significant strategic move for O’Neal Manufacturing Services, which was formed by O’Neal Steel earlier in 2011. According to Steve McCracken, Executive Vice President of O’Neal Manufacturing Services, “The addition of Iowa Laser to O’Neal Manufacturing Services creates some exciting opportunities for us and for our customers. With the addition of Iowa Laser’s capabilities and expertise, we will be better positioned to increase our manufacturing offerings and improve our overall growth. Existing O’Neal customers will have access to additional expertise, and Iowa Laser customers will benefit from O’Neal’s size and industry position. The geography works well for us, and the cultural fit appears to be perfect.”
Joe Barber, President of Iowa Laser, will continue to oversee the company’s operations, which includes more than 20 laser cutting machines as well as various welding, machining, and forming equipment that the company uses to process sheet, tube, stamped, and spun metal parts for customers in the agricultural, forestry, automotive, material handling, and construction equipment industries. “Iowa Laser is extremely excited about joining the O’Neal family of companies. Our experience in laser-based manufacturing complements O’Neal’s other manufacturing services and we look forward to expanding services and expertise to our customers,” said Barber.
O’Neal Steel, Inc. and O’Neal Manufacturing Services are part of O’Neal Industries, the nation’s largest family-owned metals service center with sales of approximately $2.5 billion in 2011. The company’s Industrial Metals Group (IMG) and High-Performance Metals Group (HPMG) consist of eight leading brands working cooperatively to provide added value to customers in diverse markets throughout the world. O’Neal Industries is headquartered in Birmingham, Alabama and has more than 80 locations in North America, Europe, and Asia. For more information, visit www.onealind.com
For more information, contact Shirley Fagan at 205-599-8272 or [email protected].