Ajax Tocco Acquires Assets from ABP Induction

BROOKFIELD, WI, January 10 -Ajax Tocco Magnethermic ("ATM") has acquired the assets and intellectual property formerly known as Pillar from ABP Induction. The business provides induction systems and aftermarket parts and service to a worldwide market. The sale includes the Brookfield, WI and Sterling Heights, MI operations. ABP's induction melting operations in North Brunswick, NJ, and Massillon, OH are unaffected, as are its international operations including ABP Induction Systems Shanghai, previously Pillar Shanghai.

ATM will reinstate the name Pillar Induction and operate it as a division of ATM. All Pillar products will continue to be sold and markets served will continue to be supported. All personnel associated with the Pillar products have been transferred to the new division. Customers of Pillar products and services will continue to receive the benefit of the relationships established with the existing operations.

Thomas Illencik, President of Ajax Tocco Magnethermic stated "The Pillar brand has a long and respected history. We are excited to bring the technical heritage of Pillar together with Ajax and Tocco. We look forward to expanding the sale of these products through the ATM's worldwide operations while we continue to serve their existing customer base."

Ajax Tocco Magnethermic is a global leader in the design and manufacturing of world class induction heating and melting equipment for various industries throughout the world. In addition ATM provides a wide range of engineering and aftermarket services including laboratory process development, preventative maintenance, equipment repair and parts, coil repair, and installation services. Headquartered in Warren, Ohio, ATM has manufacturing and service locations throughout the United States, Canada, Germany, Poland, Belgium, China, Japan, Thailand, the UK, and Mexico.

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