OVACO takes ownership of Indalex aluminum plant

THE VINDICATOR, YOUNGSTOWN, OHIO
NILES -- An aluminum casting plant in Niles is under new ownership.
Indalex Aluminum Solutions Group has given ownership of the plant to Ohio Valley Aluminum Co. In return, Indalex receives OVACO's aluminum extrusion plant in Connersville, Ind. Both plants have 80 union employees.
The exchange agreement calls for OVACO to supply Indalex with aluminum billet for five years.
Indalex operates 18 extrusion plants in North America, including one in Girard, which employs 425.
Indalex said the exchange gives it more extrusion capacity, assured billet supply and additional large-press capacity.
Besides the billet-casting capacity, OVACO said it is gaining a foothold in an important geographic market.
OVACO, which was formed in 1955, operates a billet plant in Shelbyville, Ky., and an extrusion operation in Jeffersonville, Ind. It is based in Shelbyville.
Indalex is based near Chicago but is part of Novar, a British company.
It said that acquiring the Connersville extrusion plant is part of its effort to improve manufacturing operations this year. Also included are multimillion-dollar expansions at plants in Montreal and Gainesville, Ga.