Refractories manufacturer Allied Mineral Products Inc. announced it plans to buy Pryor Giggey Co., a maker of monolithic refractory products and precast shapes. No price has been reported for the purchase. Columbus, OH-based Allied Mineral stated it expects to complete the acquisition by the end of this month.
Both companies are employee-owned (ESOP); the buyer indicated that business would continue to be conducted without change for both companies in the near term.
"Pryor Giggey's workforce, product line and manufacturing locations in the U.S. will be great additions to Allied," according to Jon R. Tabor, president and CEO.
Allied Mineral Products manufactures monolithic refractories and precast, pre-fired refractory shapes at 12 plants in seven countries. It also has two R&D centers. In the U.S., Allied manufactures at its headquarters location in Columbus and in Brownsville, TX.
Allied Mineral Products refractory brands include American Precast Refractories, Chicago Fire Brick, and Matrix Refractories.
Pryor Giggey manufactures monolithic refractories and precast shapes at plants in Anniston, AL, and Chehalis, WA. According to its announcement, Allied Mineral plans to expand these operations “in the near future.”
"This acquisition will allow Allied to be more agile in supplying customers in the Southeast and West Coast while providing a new global platform for Pryor Giggey products. We will leverage our strengths to benefit both Allied and Pryor Giggey customers," Tabor added.
Mike Chieppor, president of Pryor Giggey Co., said that the company's standards for customer service and its product line “will fit perfectly with Allied and how they do business."