Ampco-Pittsburgh to Acquire Akers AB
Ampco-Pittsburgh Corp. entered into a definitive agreement to acquire Sweden’s Akers AB and some of its affiliated companies (excluding its operations in France and Belgium). The acquisition is expected to approximately double the sales of Union Electric Steel Corp., a wholly owned operating subsidiary of Ampco and a leading producer of forged and cast engineered products for the steel and aluminum industries. Akers AB has been a leader in the production of cast and forged rolls since 1806 and has manufacturing facilities in Europe, North America and China. The $80 million deal is expected to close in the first quarter of 2016.