JOHNSTOWN, Pa., Feb. 29, 2016 /PRNewswire/ -- Johnstown Wire Technologies ("JWT"), the largest independent producer of Cold Headed Quality ("CHQ") and value added wire in North America has announced it is finalizing the completion of its multi-year commitment of nearly $10.0 million into its facility to further augment its capacity, expand its steel wire product portfolio and further satisfy its customers' technological requirements.
The aforementioned capital investments significantly increase JWT's capacity in both CHQ and value added spring wire products. Furthermore, this comprehensive capital program includes one of the largest automated clean and coat lines in North America, numerous multi-hole wire drawing machines, and technology that enables larger diameters.
These new capabilities permit JWT to enhance its drawing of both high and low carbon steel wire, offering superior cooling, consistency and packaging. The majority of the capital investments are now fully operational, with the balance coming online by early third quarter 2016.
"We are excited that our new investors have committed substantial resources into JWT to further increase both capacity and product capabilities that will better meet the needs of our current and new customers for years to come. This strategic capital investment program has created new opportunities for our company, our business partners, and our team members across the globe," said Ron Shaffer, President & CEO of Johnstown Wire Technologies.
Johnstown Wire Technologies, located in Johnstown, PA is owned by an affiliate of Aterian Investment Partners, an operationally-focused private equity firm that invests in industry leading, middle market businesses providing resources to further enhance operations, growth and investment initiatives.
SOURCE Johnstown Wire Technologies