ASKO Makes Acquisition

ASKO Inc., Homestead, Pa., has announced that it recently acquired assets of the Wapakoneta Machine Co., expanding ASKO's product and service capabilities.

In acquiring Wapakoneta’s intellectual property, machinery, equipment and inventories, ASKO recognizes opportunities to serve its new customers, expand business and create growth, according to a company press release. The company says integration of the Wapakoneta business into ASKO's will benefit ASKO customers, ASKO employees and strengthen the company. 

"ASKO's acquisition affords Wapakoneta customers the continuous availability of tooling grades and outstanding performance they have long relied upon. ASKO's entire team looks forward to servicing Wapakoneta customer tooling requirements," says Bill Rackoff, ASKO’s CEO.

Dan Fischer, Wapakoneta’s president, says, "Wapakoneta is pleased that with ASKO's purchase of assets, the customers of Wapakoneta may look forward to the continuous and reliable supply of the grades and quality products that Wapakoneta has perfected over the years. The employees and shareholders of Wapakoneta are working together closely with ASKO to assure a seamless transition for Wapakoneta's former customers."

Wapakoneta, founded in 1891, manufactures and services industrial knives at its manufacturing facility in western Ohio. Its product line includes straight and circular knives for the steel and nonferrous metals industries, slitter tooling, and hardened machine ways.

The acquisition affords Wapakoneta customers full access to ASKO's line of grades, technical expertise, and worldwide supply base. ASKO manufactures and supplies shear knives, slitter tooling and wear parts for the metal producing, processing and recycling industries.