As part of the acquisition, Charter Dura‐Bar will maintain the Lokey Metals brand name and continue to operate the Fort Worth facility. The sellers – who were not named in the announcement – will maintain its Houston facility and retain the employees there while it continues to provide stainless steel, carbon steel and aluminum bar products, according to a news release.
Charter Dura‐Bar Inc., of Woodstock is a wholly‐owned subsidiary of Charter Manufacturing Co. Inc., based in Mequon, Wisconsin.
Murray said that Charter Dura‐Bar already has existing customer support centers in Woodstock; Salisbury, North Carolina; and York, Pennsylvania, and through its network of distributors. The addition of the Lokey Metals Fort Worth operation will improve Charter Dura‐Bar’s ability to serve customers in the oil and gas and fluid power markets with enhanced target coverage with faster delivery times, in many cases in less than five hours drive time, according to the news release.