Hitachi Metals Acquires Diehl Steel
This deal increases their North American footprint in hot work tool steel die casting and forging applications.
Posted: November 28, 2015
Diehl Steel Company, Inc. (Cincinnati, OH) has entered into an agreement to be acquired by Hitachi Metals Ltd. (Tokyo, Japan). The acquisition calls for the transfer of all of Diehl Steel’s assets to their subsidiary Hitachi Metals America, LLC, a specialty steel producer and distributor. The asset transfer took place on November 2. Diehl will be renamed Diehl Tool Steel.
According to Mike Sheehan, the president of Diehl Steel, “This is an exciting development that will allow us to better serve our many valued customers. Hitachi, through its parent company Yasugi Specialty Steel, is a leading specialty steel manufacturer across a wide range of markets. The resources that will now be available to our team will allow us to better serve our cold work tool steel customers, and will also pave the way for us to offer hot work tool steel solutions for die casting and forging applications.”
Tom Bell, the product group head of Hitachi Metals America, commented, “This acquisition greatly enhances our presence in North America and will accelerate our plans to expand the capabilities we have to offer customers.”
There will be no interruption of service, and Diehl customers will continue to work with their existing teams of sales and support professionals. Sheehan, who will be the president and chief operating officer of the new Diehl Tool Steel, went on to add, “One of our goals is to provide our customers around the globe with the best quality and most consistent specialty tool steels and solutions available. Against this backdrop, we look forward to helping our customers optimize their tooling operations.”
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