COOKSTOWN manufacturer Steelweld Fabrications has been bought by the Terex Corporation.
The US giant, which already has a strong presence in Co Tyrone, said the acquisition will increase its fabrication capabilities in the north for the production of crushing and screening machinery.
Terex said the move is part of a long-term strategy that involves significant investment in its fabrication facility in Ballymoney.
Set up by Dominic Crilly in 1983, the Steelweld operates from a 65,000 sq ft facility in the Ballyreagh Business Park, with a staff of around 110.
It specialises in sub contracts, offering a range of engineering solutions including laser and plasma cutting, folding, fabrication and finishing.
The engineering firm’s revenue grew 35 per cent last year to £8.2 million, posting a profit of £360,000 for the year ending August 31 2021,
Mr Crilly, who headed the firm for 39 years, has now retired.
Welcoming the Steelweld employees into the Terex fold, the corporation’s chairman and chief executive John L Garrison Jr said: “Over the past 40 years, the company has built a highly skilled work force and has a valued reputation for high levels of quality and service,#
President of the Terex Materials Processing division, Kieran Hegarty added: "Steelweld's expertise in heavy fabrications will provide additional knowledge and talent to support the growth of Terex Materials Processing."
