Two suppliers of foundry iron, ferroalloys described as a perfect fit
Miller and Company, a Rosemount, IL-based supplier of primary iron products and ferroalloys to ferrous foundries and steelmakers, has been acquired by Nizi International. Nizi, headquartered in Luxembourg, supplies pig iron, ferroalloys, silicon carbide, recarburizers, briquettes, foundry coke, and nodularizers to foundries in Europe. “As the preferred supplier to the North American foundry industry Miller will add a new dimension to Nizi,” said Dag Teigland, chairman of Nizi International.
The cost of the purchase was not announced. The Miller brand will remain and the organization will continue as a subsidiary of the Nizi Group. The company’s president John Adcock and CFO Sue Dudek will remain in their current positions.
Miller operates two plants that process carbon and SiC grain products, one in Mulga, AL, and one in Seneca, IL. The Illinois plant also produces SiC, carbon, and alloy briquettes. Its production capabilities are similar to the Nizi operations, and the buyer noted “there are interesting potentials for synergies to be explored within areas like product sourcing and worldwide market coverage.”
According to Adcock, “This is a perfect fit between two venerable companies with nearly identical business philosophies. Nizi’s broader worldwide footprint will bring heretofore untapped sourcing opportunities to bear in the U.S. market for the benefit of both our shareholders and customers.”
Nizi’s North American activity has been generally confined to ferroalloys, and most of its customers have been steelmakers, it said.
“Nizi International represents our long-term industrial commitment toward the metal industry and we have high ambitions for the future development of the company,” explained Dag Teigland, chairman. “With a strong financial platform, a highly dedicated organization and a robust business model Nizi is well positioned for growth and further geographical expansion. Miller and Company fits right into this strategy.”