O’Neal Expands with Acquisition of Iowa Laser Technology

Birmingham, AL — O’Neal Industries has acquired Iowa Laser Technology, Inc., a Cedar Falls, Iowa manufacturer of fabricated metal assemblies and components. This represents a significant strategic move for O’Neal Manufacturing Services, which was formed by O’Neal Steel earlier in 2011. According to Steve McCracken, Executive Vice-President of O’Neal Manufacturing Services, “The addition of Iowa Laser to O’Neal Manufacturing Services creates some exciting opportunities for us and for our customers. With the addition of Iowa Laser’s capabilities and expertise, we will be better positioned to increase our manufacturing offerings and improve our overall growth. Existing O’Neal customers will have access to additional expertise, and Iowa Laser customers will benefit from O’Neal’s size and industry position. The geography works well for us, and the cultural fit appears to be perfect.”

Joe Barber, President of Iowa Laser, will continue to oversee the company’s operations, which includes more than 20 laser cutting machines as well as various welding, machining, and forming equipment that the company uses to process sheet, tube, stamped, and spun metal parts for customers in the agricultural, forestry, automotive, material handling, and construction equipment industries.

O’Neal Steel, Inc. and O’Neal Manufacturing Services are part of O’Neal Industries, the nation’s largest family-owned metals service center with sales of approximately $2.5 billion in 2011. The company is headquartered in Birmingham, Alabama and has more than 80 locations in North America, Europe, and Asia. For more information, visit www.onealind.com.