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Steel News June 11, 2019 12:30:09 PM

Liberty Steel Expands U.S. Footprints Through Acquisition of Johnstown Wire Technologies

Paul Ploumis
ScrapMonster Author
The acquisition will expand Liberty Steel’s U.S. presence and help the company to further consolidate its leadership position in U.S. wire rod market.
Liberty Steel Expands U.S. Footprints Through Acquisition of Johnstown Wire Technologies

SEATTLE (Scrap Monster): Liberty Steel, part of GFG Alliance announced acquisition of Johnstown, Pennsylvania-based Johnstown Wire Technologies (JWT) - the largest North American producer of added carbon and alloy wire from private investment firm, Aterian Investment Partners. The acquisition will expand Liberty Steel’s U.S. presence and help the company to further consolidate its leadership position in U.S. wire rod market.

According to Liberty Steel press release, the transaction was financed by group equity and loans from PNC Business Credit. By acquiring the 638,000 square feet Johnstown manufacturing facility, which employs nearly 250 workers, Liberty Steel aims to emerge as the key supplier of products such as support cables and guard rails for bridges and for electrical power lines, in addition to boosting its supply to transportation market.

Liberty Steel noted that it is committed to make further investments at the plant. Also, all Johnstown employees will be retained.

Sanjeev Gupta, GFG Group executive chairman welcomed the highly-skilled JWT members to the GFG Alliance family. The addition of high-quality specialized facilities at Johnstown will further strengthen Liberty Steel’s existing facilities at Georgetown and Peoria, he added. Meantime, Jack Miller, President and CEO of Johnstown Wire Technologies shared great excitement in joining the GFG family.