Wismarq’s the Spot

Wisco company buys Allentown metals manufacturer

Wismarq, a Wisconsin company, bought Prior Coated Metals on Monday, an Allentown, Pa., company that makes wire coatings.

Wismarq will balance its geographical footprint with the move. It already has locations in Illinois, Tennessee, and Western Pennsylvania in addition to its headquarters in Oconomowoc, Wisc. (in between Milwaukee and Madison). The Allentown acquisition provides crucial inclusion in the Northeast corridor between Philadelphia and New York City.

It will also provide downstream processing and precision slitting capabilities by acquiring a site that has been recognized for its quality in the coating industry over its 50-plus year tenure. Wismarq will now become the third largest independent coil coater in the nation with six continuous production lines.

The service center industry is a critical piece of the prepainted metal supply chain.—National Coil Coating Association photo

The service center industry is a critical piece of the prepainted metal supply chain.—National Coil Coating Association photo

“The addition of the Prior Coated Metals assets to the Wismarq portfolio is perfectly timed to elevate and sustain the positive momentum we have created in 2016,” said Jim Dockey, Wismarq’s Chief Executive Officer in a press release November 22. “This transaction will provide a continued catalyst for the disciplined growth strategy our company has pursued in the past year. The expanded geographical footprint, complementary capabilities, and incremental capacity provided by the acquisition will allow us to broaden our market presence while offering an even greater value proposition to our highly valued customers.”

In other words, they can now make more money and have more reach. EA’s calls to Wismarq representatives were not returned by press time, but two things remain unconfirmed: the value of the deal (Philadelphia Business Journal reported it at around $2.46 million on Monday), and whether or not there will be any downsizing included or jobs lost. The Allentown area is a longtime industrial hub that has experienced industrial fruition, severe recession, and most recently signs of revival.

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