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[December 2006]
Resco Announces Acquisition of New Castle Refractories
Resco Products Inc (Pittsburgh, PA, USA) has acquired the assets of New Castle Refractories Company, including its plants located in New Castle, PA, Newell, WV and Massillon, OH (all USA).
New Castle Refractories manufactures brick and special shapes in silicon carbide, mullite, extra high alumina, clay-graphite, cordierite, clay and insulating compositions.
"The acquisition of New Castle Refractories will expand Resco’s product offerings and result in complementary and synergistic benefits to Resco and its customers," stated William Brown, Resco’s President and CEO. "Resco intends to build on New Castle’s long reputation with its customers for product quality, on-time delivery and technical expertise. The integration of New Castle into Resco has been planned so that there should be no disruption to New Castle stakeholders," Mr Brown added.
"When the current New Castle owners decided to sell the business, we wanted a buyer who was recognized as a leader in the industry and who would build on New Castle’s success," stated Thomas Shaffer, President, New Castle Refractories. "We found that company in Resco and are very pleased to complete this transaction with them. Resco will continue operations at the three New Castle plants which will have a positive impact on New Castle’s customers, vendors and employees."
Resco Products is a leading supplier of refractories in North America. Resco serves other major industries such as steel, copper, nickel, aluminium, hydrocarbon processing and cement. The product lines offered include magnesite brick, magnesite-chrome brick, magnesite-carbon brick, alumina-magnesite-carbon brick, alumina brick, clay-alumina specialities (gunning mixes, castables, plastics, ram mixes and mortars), precast shapes, basic specialities, extruded cartop shapes and minerals.
www.rescoproducts.com
ENDS