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U.S. metal caster buys Swedish firm

December 3, 2015 - Ampco-Pittsburgh Corp., Carnegie, Pennsylvania, inked a deal to acquire Åkers AB and affiliated companies, based in Åkers Styckebruk, Sweden, for $80 million. The acquisition is expected to double sales for subsidiary Union Electric Steel Corp., which produces forged and cast engineered products for the worldwide steel and aluminum industries. The transaction is expected to close in the first quarter of 2016.

Åkers has produced cast and forged rolls since 1806 and has manufacturing facilities are located in Europe, North America and China.

“The acquisition of Åkers is a significant step in Ampco-Pittsburgh’s diversification and growth,” CEO John Stanik stated. “Åkers will expand [our] global footprint and position Union Electric Steel to offer a complete product offering to customers in every region of the world.”

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