Alexin sold, but local operations will not change
Alexin LLC of Bluffton has been sold to a Canadian company, Matalco Inc., which is part of the Giampaolo Group of companies.
The transaction was announced Friday morning, and is subject to “customary closing conditions,” according to a press release.
Todd Johnson, Alexin’s vice president of technology services, says Alexin’s local operations — workforce, production schedule, etc. — will not change. Johnson said the message was reinforced with meetings with employees.
“Alexin will be doing what it has done, just under another name,” he said.
Alexin President Tom Horter will assume the role of president, Matalco USA Operations, reporting to Armand Sanguigni, CEO of Matalco Inc. and president of Matalco Canada. “Alexin and Matalco have complementary core values for environmental and safety practices, customer focus, employee respect and engagement, quality offerings, and nurturing a culture of continuous improvement through bold and innovative strategic initiatives,” Horter said.
With the purchase, Matalco adds the 225-million-pound Alexin facility to a processing capacity that also includes the 250-million-pound plant in Brampton, Ontario, the 350-million-pound plant in Lordstown, Ohio, and the 180-million-pound plant in Canton, Ohio.
The manner in which “the Alexis aquisition fits the Giampaolo Group’s industrial plan was pivotal to obtaining our board’sapproval (for the sale), Sanguigni said. “The high-performing Alexin employees joining their Matalco counterparts has been the most valued and exciting part of the acquisition.”
Alexin is the Wells County Business of the Year and will be honored as such at the Chamber of Commerce’s annual dinner Monday night. The company employs 83 workers at its facility at 1390 S. Adams St.
Sanguigni said the companies are a good match for each other.
“The founders of each company have different, but highly complementary, roots,” he said. “Alexin orginated as a startup by a handful of high quality, skilled and passionate veterans of the aluminum industry while Matalco is the result of Triple M Metal LP’s investment in training and development of committed employees to fuel the entrepreneurial downstream expansion resulting in Matalco’s continued growth. The Alexin/Metalco leadership teams combine centuries of experience, proven track records for outstanding operating efficiancy, customer partnerships, and successful growth and greenfield start-ups in the aluminum industry. This is another step in Matalco’s growing investments in the United States, including the recently completed Lordstown facility and the $10 million modernization of the Canton plant that is currently underway.”
Horter agreed. “The integration of Alexin provides Matalco with increased product breadth, particularly in the growing automotive flat rolled product market and specialty alloy billet markets. Our combined facilities are well-positioned to turbo-charge the group’s future product offerings and PPAP’s for speed to market in these growing niche areas while supporting other business possibilities to attain the Giampaolo Group’s medium- and long-term objectives.”