Kokomo-based Haynes International Inc. (Nasdaq: HAYN) has announced the acquisition of a metal shaping company in LaPorte. The deal for Leveltek Processing LLC is expected to close in January. October 22, 2014
KOKOMO, Ind. – Haynes International, Inc. (Nasdaq:HAYN), a leading developer, manufacturer and marketer of technologically advanced high-performance alloys (the “Company”), reported today that it had entered into a definitive agreement to purchase those assets and operations of Leveltek Processing, LLC located in LaPorte, Indiana.
“We are excited about this acquisition and the many opportunities it will provide to Haynes,” said Mark Comerford, President and Chief Executive Officer of the Company. “Haynes has been working with Leveltek for over 10 years, and we have always been impressed by the quality of their personnel and processing capabilities. We're looking forward to continuing work with Leveltek's employees while building on their customer relationships and expanding the tolling business.”
The acquisition is expected to close in early January of 2015.
About Haynes International
Haynes International, Inc. is a leading developer, manufacturer and marketer of technologically advanced, nickel- and cobalt-based high-performance alloys, primarily for use in the aerospace, chemical processing and land-based gas turbine industries.
About Leveltek Processing, LLC
Leveltek Processing, LLC operates metal stretching, leveling and cutting facilities located in LaPorte, Indiana and Benwood, West Virginia. The company uses non-marking stretch leveling technology to eliminate shape defects in coils of ferrous and non-ferrous materials.
Source: Haynes International Inc.