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Published: July 10, 2008 10:46 pm
Hoganas acquires Kobe Steel subsidiary
By SHAWN PIATEK
The Tribune-Democrat
North American Hoganas Inc. has made a major acquisition that will lead to new jobs at its regional operations.
The company announced that it has acquired Kobelco Metal Powder of America Inc., a subsidiary of Japan-based Kobe Steel Ltd. The agreement was reached Wednesday.
Hoganas released little information about the specifics of the deal or how it will impact its manufacturing operations in Johnstown’s Moxham neighborhood and in Hollsopple.
Ron Solomon, vice president of sales, said Thursday that the company would not be commenting on the transaction now beyond a press release it issued.
Hoganas said in the release that the transition of Kobelco’s work and customers to Hoganas’ local operations will be done gradually. The Kobelco plant, located in Seymour, Ind., will be closed in the spring.
The additional work coming to Johnstown will mean more jobs at Hoganas, but it’s uncertain how many.
According to the Seymour News, the Kobelco plant employs more than 100 people.
To make the transition as smooth as possible for customers, North American Hoganas and Kobe will form a new company called KHTech Inc. This entity, majority-owned by North American Hoganas, will provide technical and sales support to the affected customers.
“We are very pleased that Kobe Steel has chosen Hoganas as its partner in North America and the agreement is an important step forward,” Alrik Danielson, CEO of Hoganas AB, parent company of North American Hoganas, said in a statement.
“The creation of KHTech Inc. will add impetus to the development of new applications for powder metal technology.”
Hoganas’ local operations currently employ more than 300. The company announced in August that it would invest $100 million in its local facilities during the next four years, creating 40 jobs along the way.
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