Steel News

Liberty Steel Acquires Pennsylvania Wire Maker

6/13/2019 - Pennsylvania-based Johnstown Wire Technologies (JWT) has been sold to Sanjeev Gupta's Liberty Steel USA for an undisclosed amount, the company has announced.

In a statement, Liberty Steel said the acquisition will further expand its U.S. presence and will complement its melting and rolling operations at Georgetown, S.C., and Peoria, Ill.
JWT is a producer of cold-heading-quality (CHQ) wire located in Johnstown, Pa. The facility, once a part of Bethlehem Steel Corp., is more than a century old and employs 250 workers.
“Today's announcement marks another major step by Liberty toward its target of quickly becoming a market leader in the American wire rod sector,” the company said.
“With more than half of JWT's output sold into the transportation market, Liberty is also aiming to capitalize on continued growth in U.S. vehicle production. It is the third-largest producer in the U.S. of CHQ wire, which is used in automotive products such as engine block bolts and brake pad rivets,” they said.
Liberty Steel acquired the business from private investment firm Aterian Investment Partners. Aterian bought Johnstown Wire in 2014 and worked alongside the business to invest in strategic commercial initiatives, new production equipment and operations processes.
You can read more on this story here.