GO Carlson Inc. of Oil City purchased Braeburn Alloy Steel in Lower Burrell.
Commonly referred to as Braeburn Steel, Braeburn processes metal alloys including titanium, refractory metals, high-end nickel alloys, alloy steels, stainless steel, tool steel and carbon steel .
It is 125 years old and employs about 41 workers.
The sale was announced Thursday by SC&H Capital, a CCX Inc. investment banker. CCX acquired Braeburn Steel in 1944 and retained its name.
Details of the sale were not immediately available.
The companies and SC&H Capital said the transaction would allow Braeburn Alloy Steel to continue in business.
But the new owners refuse to recognize the United Steelworkers union, USW spokesman Tony Montana said Friday.
The United Steelworkers union is “aggressively pursuing unfair labor practice charges against Braeburn and GO Carlson for the company’s refusal to recognize the union,” Montana said.
The employment contracts of approximately 35 Braeburn employees represented by the USW expired on June 30.
The unfair labor practice charges are pending before the National Labor Relations Board in Pittsburgh, Montana.
CCX Braeburn Alloy Steel filed for voluntary Chapter 11 bankruptcy earlier this year to reorganize and continue operations after the steel company was hit by reduced sales during the covid-19 pandemic and increased spending. A possible sale of the steel business to GO Carlson has been announced as part of the bankruptcy proceedings.
SC&H Capital hailed the sale in a press release as an “excellent fit” for GO Carlson, a global leader in high performance corrosion and heat resistant materials.
Matt LoCascio, Director of SC&H Capital, said: “We are delighted that a company with as much history as Braeburn will continue to serve its customers and suppliers following this sale.”
When the proposed sale was announced several months ago, Tracy Rudolph, president and chief operating officer of GO Carlson, said in a statement that her company looked forward to continued employment for “skilled workers from Braeburn and (serving) its customers and suppliers with the same level of satisfaction it has had for decades.
Calls to GO Carlson and Braeburn were not immediately returned.
In April, Braeburn chief executive Felix Zaffina said the owners of the steel company wanted to sell for a while.
“We hope this change in ownership will facilitate our growth potential within the metal forging industry and ensure rewarding career opportunities for our workforce in the future,” he told the era.
Located along the Allegheny River in the Braeburn section of Lower Burrell, the multi-building Braeburn plant totals 220,000 square feet on approximately 9 acres of the company-owned 43 acres.
Mary Ann Thomas is editor of Tribune-Review. You can contact Mary at 724-226-4691, [email protected] or via Twitter .
