Illinois-based Charter Dura-Bar, an iron bar producer, has acquired Fort Worth, Texas-based Lokey Metals. The iron distribution business of Lokey Metals will become the fourth branch of Dura-Bar Metal Services. According to a press release, Charter Dura-Bar seeks to expand its connections to the oil and gas and hydraulics and pneumatics industries with the recent acquisition.
As part of the acquisition, Charter Dura-Bar will maintain the Lokey Metals brand name and continue to operate the Fort Worth facility while the sellers will maintain and operate their Houston facility under a separate brand. The financial terms of the deal were not disclosed. Charter Dura-Bar already has existing customer support centers in Woodstock, Illinois; Salisbury, North Carolina; and York, Pennsylvania, and through its network of distributors.
Charter Dura-Bar makes and distributes Dura-Bar. Its Dura-Bar operating unit, in Woodstock, is the largest global producer of continuous cast iron bars, according to a press release. Charter Dura-Bar Inc. of Woodstock is a wholly owned subsidiary of Charter Manufacturing Co. Inc., based in Mequon, Wisconsin.