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Coronado Steel
Filling a mold at Coronado Steel, Youngstown, OH.

Industrial Holding Company Buys Ohio Foundry

March 26, 2024
Coronado Steel, a manufacturer of specialty alloys, is joining eight other producers in the Canerector network of industrial products businesses.

Coronado Steel in Youngstown, OH, has been acquired by Canerector, a holding company for more than 50 businesses that design and manufacture industrial products in the U.S. and Canada. According to an announcement, the “strategic acquisition … underscores Canerector’s commitment to growth and its history of expansion through acquiring and investing in North American businesses that exhibit strong fundamentals and present its core markets.”

The cost of the purchase was not announced.

Ontario-based Canerector operates in a range of industries with autonomous business that design, engineer, fabricate, cast, machine, and construct industrial products,

Coronado Steel is a specialty manufacturer of cast and machined parts in heat- and corrosion-resistant ferrous alloys for steelmaking, heavy machine manufacturing, and oil-and-gas extraction. Its capabilities include sand casting, investment casting, centrifugal casting, machining, and fabricating, as well as reverse engineering.

Other foundries included in Canerector’s Foundrion Group include Aluminum Alloys, Sinking Spring, PA;

Gamma Foundries Inc., Richmond Hill, ON; Highland Foundry Intl. and Highland Foundry Ltd., Surrey, BC; J. Walter Miller Co., Lancaster, PA; Kent Foundry, Greenville, MI; Mitchell Aerospace, Saint-Laurent, PQ; and Monett Metals, Monett, MO.

“We’re pleased to welcome Coronado Steel and its demonstrated expertise in supplying specialty steel alloys for complex and high-temperature applications in the petrochemical, steel, and heat-treatment industries,” stated Foundrion group president Joe Tabak. “Our combined strength and expertise better positions Foundrion’s group of nine foundries to drive innovation and deliver exceptional value to our customers and strengthen our position in the market.”