Crawford United Corp. of Cleveland, Ohio, purchased KT Acquisition LLC, doing business as Komtek Forge in Worcester, Mass. Komtek Forge provides complex, highly engineered forgings for the aerospace, industrial gas turbine, medical prosthetics, alternative energy, petrochemical and defense industries. The acquired business will continue to operate under the name Komtek. The acquisition will add about $7 million in annual revenue to Crawford United.
American Axle & Manufacturing Holdings Inc. (AAM), a global automotive supplier of driveline and metal-forming technologies, and Suzhou Inovance Automotive Ltd. (Inovance Automotive), a provider of automotive power electronics and powertrain systems in China, formed a technology development agreement that will accelerate the development and delivery of scalable, next-generation 3-in-1 electric drive systems, which integrate an inverter, electric motor and gearbox. The collaboration will seek to enhance the power density, efficiency and cost-effectiveness of electric drive technology offered in the global market.
Anhui Anhuang Machinery Co. Ltd. placed an order with SMS group for a fully automatic closed-die forging line for pistons. The 2,500-ton line consists of a fully automatic closed-die forging press and an induction heating system from SMS Elotherm for heating the forging blanks. Anhui Anhuang will be one of the first automotive suppliers in China that is capable of manufacturing pistons for cars and trucks in a fully automated process. Commissioning is scheduled for the second quarter of 2022.
FORGE is hosting a free webinar “Lightweight Design with Forged Components” Wednesday, Dec. 16 at 2:00 p.m. (ET). Lightweight and forging are two words for which most people do not immediately see a connection. However, forging technology using modern steel and aluminum materials can significantly support lightweight design activities. In order to demonstrate this, the Lightweight Forging Initiative has worked between 2013 and 2018 to show the lightweight potentials of forgings in car and truck applications. This webinar will present the results of the Lightweight Forging Initiative, provide many concrete ideas how to achieve mass reduction in forged components and show many examples. We will conclude with an approach for forging companies to become a proactive supplier of lightweight solutions.
Cleveland-Cliffs Inc. successfully completed the acquisition of substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries, forming the largest flat-rolled steel producer in North America. In connection with the acquisition of ArcelorMittal USA, which includes the interests of ArcelorMittal USA of 60% in I/N Tek L.P. and 50% in I/N Kote L.P., Cleveland-Cliffs also acquired Nippon Steel’s remaining interests of 50% in I/N Kote and 40% in I/N Tek for a total consideration of approximately $183 million. With this additional transaction, Cleveland-Cliffs becomes the sole owner of 100% of I/N Tek and I/N Kote.
United States Steel Corp. exercised its call option to acquire the remaining equity of Big River Steel for approximately $774 million. The transaction is expected to close in the first quarter of 2021. Big River Steel operates a LEED-certified Flex Mill in northeast Arkansas. The company’s advanced manufacturing technology and skilled operators combined with U.S. Steel’s product development capabilities and intellectual property have allowed Big River Steel to produce 11 advanced U.S. Steel grades.
The Forging Industry Association (FIA) announced that Forge Fair 2021, North America’s largest forging industry trade show, will be rescheduled to October 26-28, 2021. It was originally scheduled for May 18-20, 2021. The general logistics, schedule and location of Forge Fair 2021 will remain the same. The three-day trade show will take place at the TCF Center in Detroit, Michigan. Detroit Marriott Renaissance Center is the host hotel and will provide discounted room rates to Forge Fair attendees.
American Axle & Manufacturing (AAM) will supply its EcoTrac Disconnecting All-Wheel-Drive (AWD) for Chrysler’s new 2021 Pacifica minivan. AAM’s system seamlessly provides AWD safety and performance only when the vehicle senses it is needed, including during cold temperatures, windshield wiper use, front-wheel slip, heavy accelerations, electronic stability control activation, abrupt steering and rough road conditions. AAM’s Pacifica’s power transfer unit (PTU), rear drive module (RDM) and the drive train control module (DTCM) are the heart of its AWD system and use vehicle sensor data to constantly evaluate traction and assist the driver through difficult weather and challenging road conditions.
Meritor Inc. (Troy, Mich.), a global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, disclosed a restructuring plan that includes closing three of its U.S. manufacturing plants. The facilities to be closed are located in Chicago, Ill.; Livermore, Calif.; and Livonia, Mich. The news came in the company’s Q4 business filing, which also revealed the closing of its European administration office in Zurich. The actions are expected to generate $10 million in annual savings.
Nucor Corp. broke ground on its 400-job, $1.7 billion steel-plate manufacturing mill in Meade County, Ky. The project is expected to employ up to 1,500 contractors during construction. Located along the Ohio River in Brandenburg, the 1.5-million-square-foot operation will provide Nucor with 1.2 million tons of annual capacity for steel-plate production. Full-time jobs will include equipment operators, production specialists, safety and environmental technicians, engineers and office support staff. The mill is scheduled to open in 2022.