ACQUISITIONS: Industrias Acquiring Republic

Jason Sandefur

Republic Engineered Products Inc. will be acquired by Industrias CH, S.A. de C.V., a Mexico City-based steel producer and processor.
Fairlawn, OH-based Republic produces special bar quality steel.
ICH will acquire all shares, including those owned by majority shareholder Perry Capital. Republic will become a subsidiary of Grupo Simec of Guadalajara.
Acquisition terms were not an-nounced.
Republic CEO Joseph Lapinsky said the “combination will create an international strategic alliance. Republic will continue to operate as a stand-alone business but will have a very strong resource in Mexico as we strengthen our relationships with customers expanding in Mexico and South America.”
Republic gives ICH its first U.S. presence. ICH operates four electric furnace steelmaking centers and four processing plants totaling a 1.9 million ton manufacturing capacity and employs 3,300 people. ICH is traded on the Mexico Stock Exchange.
Republic employs 2,500 people and has 2.3 million tons of steelmaking capacity. Web: industriasch.com.mx or republicengineered.com \ �2005 FastenerNews.com