AK Steel’s subsidiary takes over Central Tube Facility
US leading flat producer AK Steel's tubemaking subsidiary, AK Tube LLC located in Walbridge, Ohio, has signed a definitive agreement to acquire an exhaust tube producer located in Columbus, Indiana.
Furthermore, AK Tube considers to purchase Central Tube Facility (CTF) which is a subsidiary of a leading global
automotive supplier ArvinMeritor. The details of the acquisition will be announced, after receiving the regulatory approvals.
The acquisition is aimed to complete during AK Steel's third quarter and it also includes a multi-year supply agreement between AK Tube and ArvinMeritor.
ArvinMeritor's CTF has been the primary supplier of high quality
stainless steel exhaust
tubing for the company's US and Canadian plants since 1996. Furthermore, the company has developed and growth its business in 1998.
AK Steel produces flat rolled carbon,
stainless and electrical steel products to use in
automotive, appliance,
construction and
manufacturing markets, as well as
tubular steel products. In addition, the company produces snow and ice control products.
AK Steel authorities stated that CTF's exhaust
tubing products will complement AK Tube's existing operations. And also, AK Steel's high value added product mix and the relationship with ArvinMeritor will become more powerful by this acquisition.