Sandvik Materials Technology Acquires Pennsylvania Extruded Tube Company

Sandvik and PEXCO job fair planned May 20 and 21

International steel manufacturer Sandvik Materials Technology (SMT), headquartered in Sandviken, Sweden, is expanding its investment in northeastern Pennsylvania with the 100% acquisition of Pennsylvania Extruded Tube Company (PEXCO), located in Clarks Summit, Lackawanna County.

SMT has owned 70% of PEXCO and recently acquired the remaining 30% from its partner Nippon Steel Extruded Tube, Inc (NSEXT). PEXCO has been a joint venture between SMT and NSEXT since 1993 and has approximately 86 employees at its single site in Clarks Summit, located adjacent to SMT’s tube manufacturing facility on Griffin Pond Road.

 PEXCO’s line of business focuses on the production of extruded steel utilizing high purity stainless steel provided from the melting facility in Sweden and is part of SMT’s tube division.

The PEXCO extrusion press is the only press of its size range in the U.S. market, and it has a capacity of producing over 21 million pounds of finished product per year.

 According to Göran Björkman, president of Sandvik Materials Technology, taking sole ownership of PEXCO will accelerate SMT’s portfolio shift in North America. It will also strengthen SMTS position, portfolio, and ability to serve the local market, through a full alignment of PEXCO ‘s hot extrusion and cold working units on the campus near Scranton.

 “This allows for future investments to fully support our strategic priorities, and I am very pleased that we continue to execute on our profitable growth strategy, at the same time as we are continuing to excel our operational excellence program,” explains Björkman.

“PEXCO has been very successful partnership between Sandvik and Nippon Steel Corp for almost 30 years. However, given the increased demand for higher alloyed materials, the acquisition of the remaining 30% will allow us to secure, improve and develop our ability to better serve the U.S. market,” says Michael Andersson, president of Tube Division.

 According to Ryan Stoa, P.E., president of PEXCO, both PEXCO and SMT have approximately 20 job openings and plan a combined job fair on May 20 from 2-6 p.m., and on May 21 from 10 a.m. to 2 p.m. on site at 982 Griffin Pond Road, Clarks Summit, PA 18411, with both white- and blue-collar roles available. Prospective candidates may also visit sandvik.com/careers if they are unable to attend.

“Sandvik Materials Technology has had a presence in Pennsylvania since the early 1970s and as we expand our roles in the U.S., we aim to be the premier supplier of advanced technical stainless steel tubing and materials to the Americas market,” adds Stoa.

For information on the job fair, contact Donna Sunick at 570-585-7624 or donna.sunick@sandvik.com.