Westfield-based Westfield Steel Inc. plans to acquire Springfield, Ohio-based Remington Steel, Westfield Steel announced Friday.
Financial terms of the deal were not disclosed.
Westfield Steel provides a range of products and services, including fabrication, value-added steel products, distribution and light manufacturing. The company’s headquarters, main distribution center and production facility are in Westfield, and it also has a facility in Terre Haute. The company has 120 employees total, 100 of whom work in Westfield.
Remington Steel, located between Dayton and Columbus, was formed in 1986 as a carbon steel distribution business. Over time, the company expanded its capabilities. Today, about 40 percent of its sales come from manufactured parts, with steel materials making up the other 60 percent. The company has 50 employees.
“We’re so excited to have them, as they bring equipment, skilled operators, a reputation for quality manufacturing, and a local footprint in central Ohio,” Westfield Steel President Fritz Prine said in a written statement.
“This adds production capabilities and machines that further expand our value-added production and manufacturing,” Prine said. “Remington Steel allows us to expand east and southeast, while building new customer relationships.”
Prine’s father, Fred Prine, founded Westfield Steel in 1977 with two business partners: James Irwin and Onie Duffer. Fred Prine is still involved with the company as its CEO. The company also has a wholly-owned subsidiary called Westfield Steel Express, an authorized for-hire carrier.