Insteel agreement paves American Spring Wire exit from PC strand

Sources: Insteel Industries Inc., Mt. Airy, N.C.; CP staff

Insteel Industries anticipates a mid-August closing on a $36 million deal for the prestressed concrete strand business of Ohio-based American Spring Wire Corp. Subsidiary Insteel Wire Products Co. is acquiring ASW’s Newnan, Ga., production facility and equipment, plus equipment at a second PC strand plant in Houston. Insteel Wire will lease the latter facility.

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