Latrobe, Pennsylvania-based Latrobe Specialty Steel announced Thursday that it plans to purchase new equipment for its wire manufacturing business.
In order to fund the investment, Latrobe will use a Contingency Grant awarded by the Ohio Department of Development for Latrobe's job creation plans at its Wauseon, Ohio plant.
Latrobe's Vice President for Business Development Dudley Merchant said, "We are grateful to Ohio for their support. Latrobe ships this highly engineered wire globally. The company will further expand capacity this summer with the installation of technologically advanced hydrogen atmosphere furnaces which will improve output at the Wauseon plant. This expansion will require approximately $3 million of additional investment."