By Michael Roknick
Herald Business Editor
SUGAR GROVE TOWNSHIP —
ILSCO Extrusions Inc. and Pennex Aluminum said Friday the two companies reached a long term agreement for Pennex to lease the aluminum billeting operation at ILSCO’s Sugar Grove Township plant.
Terms of the deal, including the length of the agreement or the financial arrangements, were not disclosed. The number of workers expected to be employed also was not given. However, it’s expected Pennex will soon be offering a job fair for potential workers.
The operations to be leased, better known as the cast house, creates alloyed aluminum logs and billet castings. The center has the capacity to produce over 100 million pounds of alloyed aluminum log/billets a year.
ILSCO Extrusions, also known as lEI, was formed in 2010 after its parent, ILSCO Corp., Cincinnati, bought the assets of the former Signature Aluminum and Werner Co. operations as part of its supply chain.
lEI operates much of the Greenville facility as an aluminum extrusion center but has also developed long term tenants at the expansive Sugar Grove Township site.
Pennex, a subsidiary of Metal Exchange Corp., St. Louis, has over 33 years of experience supplying alloyed aluminum products including log, billet, extrusions, and fabricated components. With operations in Wellsville and York Pa., and a recent acquisition in the Youngstown suburb of Leetonia, the company continues to grow in the Midwest and Northeast.
Andrew Quinn, President of ILSCO stated
“We have been very encouraged by the results from our investment in Mercer County,’’ said Andrew Quinn, ILSCO’s president said in a news release. “We are pleased to be partnering with Pennex to help our facility reach its full potential.’’
Rick Merluzzi, CEO of Pennex, said the company was excited to team up with the veteran leadership at lEI and to become a member of the Greenville area business community.
“lEI’s management had been terrific stewards of the idled casting equipment and we are thrilled about the synergies that both parties will recognize for many years to come,’’ Merluzzi said in a news release.
He added the plant will enhance Pennex’s capabilities to serve its long term customers, prospective customers as well as its growing internal needs.
Reconditioning of the cast house will begin quickly and production is anticipated to commence in the second quarter of this year.
With more than 60 years in manufacturing, lEI offers a variety of products from custom aluminum extrusion design to just-in-time inventory replenishment. lEI operates three extrusion presses and offers fabrication and finishing services for customers in the electrical, automotive, and industrial machinery markets.
ILSCO Corp., its parent, is a leading manufacturer and distributor of branded copper and aluminum electrical connectors. The company has seven manufacturing locations throughout North America.