MEQUON, WI (WTAQ) - A metal manufacturer in suburban Milwaukee has acquired an Illinois firm that makes iron bars.
Charter Manufacturing of Mequon has purchased the stock of Wells Manufacturing – the owner of DuraBar and DuraBar Metal Services.
Charter says it’s the world’s largest maker of continuous iron bars – and it’s the only manufacturer of its kind in North America. Terms of the deal were not disclosed.
Charter CEO John Mellowes says the purchase allows his company to diversify, and enter new markets.
Charter Manufacturing makes a variety of steel bars, rods, and wire. It has 1,500 employees in Wisconsin, Ohio, England, and China. Wells Manufacturing has 360 workers in Woodstock Illinois – as well as North Carolina, Pennsylvania, and China.