Small Tube Products under new ownership
From Mirror staff reports
POSTED: March 5, 2008
DUNCANSVILLE — Small Tube Products Co. Inc. is under new ownership.
Standish Capital LLC of Pittsburgh, along with local investors and a management group, Tuesday announced the acquisition of Small Tube Manufacturing LLC, a subsidiary of Wolverine Tube Inc., doing business as Small Tube Products.
The company name will not change, and the production facility will continue operations on Spring Meadows Road, retaining 180 to 200 jobs in Blair County.
The local economic benefit from retaining these positions in the county equates to an estimated payroll impact in excess of $8 million, according to an Altoona Blair County Development Corporation press release.
“Keeping Small Tube Products here in Blair County is exciting and provides the preservation of a substantial number of excellent paying jobs and a quality local company in the area,” said Marty Marasco, president and chief executive officer of ABCD Corporation.
Small Tube Products was founded in 1947 and is a leading North American producer of precision drawn, small diameter, thin wall copper and specialty alloy tubes, serving more than 750 customers worldwide.
Wolverine Tube acquired Small Tube Products in July 1994. The current sale of the company was based on Wolverine’s decision to divest itself of the Small Tube division to focus on its core products.
The corporation has been working closely with Wolverine Tube, Standish Capital, local investors, First Commonwealth Bank and the Governor’s Action Team with the objective of retaining the jobs and business operations in Blair County.
