Wabash Acquires Alloys Plant

Wabash Alloys, LLC has acquired Culp Aluminum Alloys from Leggett & Platt, Inc., to enhance its ability to service customers in the growing Southeastern United States market for specification aluminum alloys.

Culp Aluminum Alloys' facility in Steele, Ala., recycles aluminum scrap in the production of foundry and die cast alloys, primarily for automotive applications.

"With this acquisition, Wabash Alloys is driving to become the supplier of choice for the fast-growing automotive sector in the Southeastern United States," said Bruce Warshauer, president of Wabash Alloys. "Culp Aluminum Alloys is an excellent fit with our business strategy to maintain strong regional facilities that are in close proximity to key customers and sources of supply. Our network of plants gives us flexibility to meet needs while maintaining sufficient backup capacity to provide comfort to our customers. This transaction enhances our ability to serve our growing automotive customers, and gives Wabash Alloys a low-cost platform from which to supply high-quality products," he added.

"We will continue to support Wabash in its pursuit of strategic facility expansions and acquisitions for existing and related businesses in order to enhance its ability to serve customers and to lower costs," said Frank Doyle, CEO of Connell Limited Partnership, which owns Wabash Alloys. "We intend to continue investing in Wabash, including the expansion and modernization of the Culp facility, to support the increasing needs of Wabash's customers in Southern Alabama. We also expect to reopen our Russellville, Alabama facility as additional casters migrate to the region and existing customers increase their consumption of Wabash products."

Wabash Alloys is the world's largest producer of recycled specification aluminum alloys and steel deoxidation products made from scrap.

Culp's facility in Steele has an annual production capacity of approximately 120 million pounds. It will continue operations under the name Wabash Alloys.