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Tenova Acquires Controlling Interest of Core Furnace Systems

10/13/2008 - Tenova has finalized its acquisition of the controlling interest of Pittsburgh-based Core Furnace Systems, a leading North American supplier of industrial furnaces plus meltshop equipment and services.

Tenova has finalized its acquisition of the controlling interest of Pittsburgh-based Core Furnace Systems Corp. (CORE).
 
Tenova’s addition of CORE, a leading North American designer and supplier of industrial furnaces, will help the Group continue to consolidate and strengthen its position in the North American metals industry through the provision of increasingly competitive skills and services. CORE’s supply expertise includes furnaces for reheating and heat treatment, carbon processing and electric smelting and refining, as well as meltshop equipment and services.
 
CORE will benefit from being part of Tenova’s vast global resources network, which will help to provide further opportunities to incorporate in its current technological portfolio additional technologies such as innovative submerged arc furnace designs (with Tenova Pyromet) and strip processing lines (with Tenova’s heritage Aetna Standard Company).
 
Tenova’s position in the North American industrial furnaces will be further strengthened by leveraging the synergies of CORE with Pittsburgh-based LOI Inc., a key player in industrial furnaces for the steel and aluminum industries.
 
Tenova is focused on providing customers with integrated solutions and equipment throughout the mining and metal industries as well in sectors such as strip processing lines, where Tenova boasts a historical tradition of quality and innovative technologies.
 
Tenova designs and supplies advanced technologies, products and services for the metal and mining industries. Tenova operates close to its customers through a network of 30 companies based on the 5 continents. Tenova’s consolidated presence in the NAFTA market also includes Tenova Goodfellow, the Canadian research center for steelmaking; Monterrey based Tenova HYL, which specializes in direct reduced iron; Pittsburgh-based Pomini Inc., which specializes in roll grinders; and the open-pit mining equipment manufacturer Tenova TAKRAF, located in Denver, Colo., and Calgary, Alberta, Canada.