ASKO, Inc. Acquires Wapakoneta Machine Company

Jan 13, 2010, 15:44 ET from ASKO, Inc.

HOMESTEAD, Pa., Jan. 13 /PRNewswire/ -- ASKO, Inc. a worldwide manufacturer of shear knives and wear parts for metal producers, processors, and recyclers, has recently acquired assets of The Wapakoneta Machine Company, expanding ASKO's already extensive product and service capabilities.  

In acquiring Wapak intellectual property, machinery, equipment and inventories, ASKO recognizes opportunities to serve new customers, expand business and create growth.  The integration of the Wapak business into ASKO's will benefit ASKO customers, ASKO employees and strengthen the company.  

Bill Rackoff, CEO of ASKO, remarked that, "ASKO's acquisition affords Wapakoneta customers the continuous availability of tooling grades and outstanding performance they have long relied upon. ASKO's entire team looks forward to servicing Wapakoneta customer tooling requirements."

Wapakoneta's President, Dan Fischer, stated, "Wapakoneta is pleased that with ASKO's purchase of assets, the customers of Wapakoneta may look forward to the continuous and reliable supply of the grades and quality products that Wapakoneta has perfected over the years.  The employees and shareholders of Wapakoneta are working together closely with ASKO to assure a seamless transition for Wapakoneta's former customers."

Wapak, founded in 1891, has continually manufactured and serviced industrial knives at its sole manufacturing facility in Western Ohio.  Wapak's products include straight and circular knives for the steel and non ferrous metals industries, slitter tooling, and hardened machine ways.

The acquisition affords Wapak customers full access to ASKO's extensive line of industry leading grades, technical expertise, and worldwide supply base. ASKO manufactures and supplies shear knives, slitter tooling, and wear parts for the metal producing, processing and recycling industries.  ASKO has also developed EdgeMaster slitter set-up software which improves slit edge quality, speeds the set-up process, and improves set-up accuracy, addressing the unique demands of any coil processing operation.

ASKO combines expert understanding of specialty tool materials, heat treating, and tooling application requirements to create innovative metal processing solutions. With a network of manufacturing and service facilities and sales engineers located throughout the world, ASKO supplies customers' high standards wherever metal processing occurs.   ASKO offers grade and design recommendations tailored to specific industrial applications, enhancing customer quality and productivity.

For additional information about ASKO or product offerings, contact Bill Rackoff: Bill.Rackoff@Askoinc.com or visit our website: www.askoinc.com.

SOURCE ASKO, Inc.



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