Franklin, Indiana-based Nonferrous Products Inc. has signed a $10.5 million deal to be acquired by Canada’s International Beryllium Corporation, according to a news release. Nonferrous, which posted $11.4 million in revenue in 2007, employs 35 at its 49,000-square-foot manufacturing facility.
Nonferrous opened in 1946 and takes metals such as beryllium copper and forges and heat treats them into usable industrial products.
“This agreement represents an important strategic milestone for IB and NF as well as an excellent growth opportunity for both companies,” said Denis Brady, CEO of Nonferrous.
International Beryllium is based in Vancouver, B.C. and controls or all of 9 beryllium mines in Uganda and Brazil.
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