Sept. 13, 2017

Lokey Metals Sells Fort Worth Operations to Charter Dura-Bar

Charter Dura-Bar has purchased Lokey Metals’ iron distribution business, a move the Woodstock, Ill.-based company hopes will improve its ability to serve customers in the oil and gas and fluid power markets.

“This strategic acquisition allows us to strengthen our product development initiatives and specification relationships with original equipment manufacturers, while continuing to grow the Dura‐Bar business in the heart of the American oilfield services industry and in the American Southwest,” Charter Dura-Bar President Pete Murray says.

As part of the deal, Charter Dura‐Bar will keep the Lokey Metals brand name and continue to operate the company’s Fort Worth facility. Lokey will maintain its Houston facility and retain the employees there, while continuing to provide stainless steel, carbon steel and aluminum bar products.

“The onshore oil and gas market presents significant growth opportunities, and Lokey’s favorable location in Fort Worth along with our other distributor relationships puts Charter Dura‐Bar in a better position to capitalize on growth opportunities,” Murray said. “Our goal is to extend our market leadership in the production, technology and application of continuous cast iron bar stock, and the acquisition of Lokey Metals provides us with a superior distribution network and greater technical support capabilities to serve the heart of the North American oil and gas production and fluid power markets,”

Additional terms of the acquisition were not disclosed.


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Monday, October 23, 2017