Lucas-Milhaupt Acquires Inmet
Lucas-Milhaupt, Inc., a subsidiary of Handy & Harman Ltd. (NASDAQ(CM): HNH), announced today that it has acquired Inmet Metal Processing Plant Ltd., Gliwice, Poland, an alloy maker with innovative products for a number of specialized applications, including metal-joining, electrical contacts and plating. Terms of the transaction were not disclosed.
Inmet's product line, which includes silver, copper and nickel-based materials in strip, wire, plate, anode and rivet form, makes it a natural, complementary fit for Lucas-Milhaupt's business, according to Phil Malliet, president and CEO of Lucas-Milhaupt. The newly acquired company will be renamed Lucas-Milhaupt Gliwice.
Lucas-Milhaupt is a global leader in the development and application of brazing technologies, with offices throughout North America, Europe and Asia. The company is also North America's foremost supplier of brazing and soldering materials, and offers a complete selection of metal-joining products, comprehensive fabrication services and knowledgeable technical support to customers in the electrical/electronic, appliance, transportation and construction markets worldwide.
Inmet, formerly a part of Poland's Institute of Non-Ferrous Metals, became an independent business owned by the Institute in September of 2010.
Inmet has been a valued supplier and partner with Lucas for more than 10 years, and we are extremely pleased to welcome Inmet to Lucas-Milhaupt, said Malliet. We believe the addition of their alloy making capabilities, specialty products and metal processing services will offer significant opportunities for growth, primarily in our European markets.
About Lucas-Milhaupt
Lucas-Milhaupt, Inc., a subsidiary of Handy & Harman Ltd. (NASDAQ(CM): HNH), is one of the world's leading suppliers of brazing and soldering materials to the electrical/electronic, appliance, transportation, construction and mining markets worldwide. Handy & Harman Ltd. is a diversified manufacturer of engineered niche industrial products with leading market positions in many of the markets it serves.
