By Mark Scott
Buffalo, NY – The parent company of Outokumpu American Brass in Buffalo is selling its copper products division. The purchase by Nordic Capital, based in Sweden, includes the Buffalo plant.
It's an $800 million deal that includes 27 plants in North America, including the one here in Buffalo. Outokumpu American Brass employs 650 workers at its facility on Military Road. Director of Human Resources, Jack Alonge, sees it as a positive development.
"We have no indication that it would be anything otherwise," Alonge said. "This company's track record is such that they tend to want to buy and grow businesses."
Indeed, a Nordic Capital partner is quoted in a statement as saying that his company sees good prospects for Outokumpu Copper to develop and grow going forward.
Outokumpu had indicated last fall that it planned to sell its copper division. The company will now focus on its stainless steel business. Outukumpu has owned American Brass since 1991, though the operation itself dates back to 1906.
"It started back then as Buffalo Copper and Brass Rolling Mills," Alonge said. "Over the past 100 years, (Nordic) will be the seventh owner."
It's expected the sale will close by this June. No word yet on what the new name of the company will be.