Union Metal Corporation Acquired

For Immediate Release:
May 17, 2018
NEWS RELEASE

CLEVELAND – Union Metal Industries Corporation (UMIC) has acquired Union Metal Corporation, America’s oldest streetscape lighting manufacturer, founded in 1906 and will keep its operations in Canton. This transaction was made possible through key collaboration among local, regional and state economic development organizations committed to growing Stark County’s economy.

The company will be doing business as Union Metal Industries Corporation under new  ownership and leadership poised to implement disciplined operating practices to benefit customers, vendors, employees, and the community. The project is expected to ultimately result in the hiring 250 full-time employees, which should significantly improve the county’s tax base.

Leonard Levie, Chairman of American Industrial Acquisition Corporation  (AIAC) stated: “We are very pleased to welcome Union Metal Industries’ highly skilled workforce and its 112 year heritage of producing quality street and lighting poles for customers throughout North America. This acquisition provides AIAC companies and our global customers valuable technical capabilities. We at the AIAC group are proud to be a part of Stark County, the city of Canton and the state of Ohio.  The reception we have received and the cooperation we have been given have been amazing.  The future for UMIC is bright and we look forward to being an integral, contributing part of an already outstanding community of business leaders and supporters.”

An economic development team — including the Stark Economic Development Board, the City of Canton, Canton Regional Chamber of Commerce, JobsOhio and Team NEO — has been working with Union Metal Industries Corporation to help make this project possible and ensure a smooth transition by providing access to people, information and resources.

JobsOhio plans to provide assistance for the project, which will be made public after a final agreement is executed.

Members of the cross-organizational team, plus regional representatives, share their insights:

“Along with Team NEO, the City of Canton, the Canton Chamber and the Stark County Economic Development Board, we are excited to see AIAC Group’s commitment to Union Metal, which has been part of the fabric of Canton for more than century. This project needed close collaboration and quick action, and we look forward to continuing that cooperation as AIAG Group brings 250 jobs and new life to this historic facility.”

–    Glenn Richardson, JobsOhio managing director for Advanced Manufacturing

“We are delighted to be working with our partners to support this acquisition and keep UMIC in the Canton community.  A different outcome might have left this historic building vacant, but now, the facility will continue to thrive as the new owner looks toward a dynamic, successful future.”

–    Ray Hexamer, president and CEO of Stark Economic Development Board

“The energy, enthusiasm and commitment of our cross-organizational team drove this very positive outcome that will benefit the companies involved as well as the city of Canton. This successful effort demonstrates that when we collaborate at all levels — local, regional and state — we can accomplish great things.”

–    Dennis Saunier, president and CEO of Canton Regional Chamber of Commerce

“I am very pleased that AIAC has decided to invest in the City of Canton. I am more pleased with the work that our Stark County development team performed in order to make this acquisition a reality. Our team took the time to listen and understand our clients’ needs and then leveraged the expertise of our teammates at Team NEO to deliver the right solutions as one team.”

–    Thomas M. Bernabei, Mayor of Canton

“Our community was facing a devastating blow and JobsOhio, along with its regional and local partners, facilitated new investment and jobs at Union Metal’s facility. We welcome AIAC Group to Stark County and appreciate their investment in our community and in the workers who will be on the job at Union Metal Industries.”

–    Senator Scott Oelslager

“Our communities are stronger when we come together to fight for hardworking Ohioans. This is a great project that will help keep the lights on at Union Metal and boost our local economy. With this partnership, Union Metal Industries — and Northeast Ohio—will continue to light up Ohio and create good-paying jobs right here in Stark County.”

–    Rep. Thomas West (D-Canton)

“Union Metal has been manufacturing high-quality streetscape lighting poles for more than a century and I am delighted AIAC Group will continue that tradition in Canton.  The decision to invest in this facility demonstrates the confidence AIAC has in this company and the hundreds of workers who will soon be on the job there.”

–    State Rep. Kirk Schuring

About Union Metal Industries Corporation
American Industrial Acquisition Corporation and its subsidiaries and affiliates (“AIAC”) is a privately held industrial investment portfolio with a long term mission to build enduring businesses.
Established in 1996, our portfolio consists of 76 manufacturing and distribution sites with over 8,000 employees in 24 countries in North America, Europe, and Asia. Total annual revenues exceed $1.6 billion. We own over 6.5 million square feet of industrial real estate and hold the exclusive, perpetual license to harvest 22 million acres of Canadian timberland.
AIAC has purchased and operated manufacturing units of Ahlstrom, Allegion, Astellas, AstraZeneca, Boeing, Carlyle Group, Constellium, GSK, Jabil Circuit, Johnson Controls, Kodak, Lockheed Martin, Merck, Moog, Northrop Grumman, Novelis, Pfizer, Raytheon, The Riverside Company, Sandvik, Siemens, SSC, Tolko, UCB Pharma, United Technologies and other large multinational corporations. We have also purchased companies in UCC Article 9 and in 363 Bankruptcy Sales, and distressed debt from leading banks.

About Team NEO
Team NEO is an economic development organization focused on creating jobs for Northeast Ohio’s residents. In collaboration with our partners, it leads the region’s business attraction efforts, supports business retention and expansion work as Northeast Ohio’s JobsOhio affiliate, accelerates the impact of innovation in the region, and aligns strategies and resources within the economic development network to maximize its impact. In addition, Team NEO provides tools to assist employers in attracting talent to the region.

Team NEO is part of the robust Northeast Ohio Economic Development System, providing business decision-makers with access to customized solutions that mitigate risk, foster innovation and accelerate growth through a connected and collaborative ecosystem. For more information, visit www.clevelandplus.com.

About JobsOhio
JobsOhio is a private, nonprofit corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion efforts. JobsOhio works with six regional partners across Ohio: Appalachian Partnership for Economic Growth, Columbus 2020, Dayton Development Coalition, REDI Cincinnati, Regional Growth Partnership and Team NEO. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter and Facebook.

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For additional information, contact:
Nina Holliday
216.363.5428 (o)
216.218.6462 (c)
mailto:nholliday@teamneo.org

Matt Englehart, JobsOhio
614.300.1152
englehart@jobsohio.com