Ampco Pittsburgh

Ampco-Pittsburgh Corporation
Public
Traded as NYSE: AP
Industry Steel
Founded 1929
Headquarters Pittsburgh, Pennsylvania
Key people
 John S. Stanik, CEO
Products rolled steel
steel plating
coils
pumps
Revenue IncreaseUS$299M (FY 2009)[1]
IncreaseUS$46.7M (FY 2009)[1]
IncreaseUS$27.8M (FY 2009)[1]
Total assets DecreaseUS$472M (FY 2009)[2]
Total equity IncreaseUS$179M (FY 2009)[2]
Number of employees
 1,300
Website www.ampcopgh.com

Ampco-Pittsburgh Corporation is a specialty steel manufacturer headquartered in Downtown Pittsburgh, Pennsylvania.[3] It is one of several companies to bear the Ampco name, and it should not be confused with the Chicago-based copper base alloy producer, Ampco Metal Inc.; the Miami-based cabinetry company; the Swiss aluminum corporation; or the Dallas-based tool company. Ampco was formed in 1929 and is a conglomerate made up of several previously established small steel makers. Five small companies operate under the Ampco umbrella in two different product segments.

About the Company

The Forged and Cast Rolls portion of the corporation includes two companies: Union Electric Steel and Davy Rolling Company.[3][4] Union Electric is the world's largest producer of rolled steel, which is used in the cold rolling process of making many metals. The subsidiary offers a variety of grades of thickness and hardness for the product. Davy Rolling Company, a former British corporation, creates cast rolls, heavy duty rolls, and specialty rolls.

The Air and Liquid Processing Segment of the company comprises Aerofin, Buffalo Air Handling, and Buffalo Pumps.[4] Aerofin creates steel coils for use industrially in power plants and oil extraction and commercially in automobiles, and heating/cooling systems. Under Buffalo Air Handling, metal plating, parts, and fans for huge ventilation and refrigeration systems are manufactured. Buffalo Pumps is the maker of a variety of pumps for various industries.Ampco's Selling and administrative expenses increased from 2003 to 2005, due to higher sales commissions attributable to the higher volume of sales.[5]

In 2008, their chairman & former CEO, Robert Paul, became a minority partner in the Pittsburgh Steelers, purchasing a minority stake in order to keep controlling ownership within the Rooney family.[6] Paul and his family acquired a 16% stake in the team as part of the deal, though the Rooneys will remain as primary owners.

References

  1. 1 2 3 Ampco-Pittsburgh (AP) annual SEC income statement filing via Wikinvest.
  2. 1 2 Ampco-Pittsburgh (AP) annual SEC balance sheet filing via Wikinvest.
  3. 1 2 http://www.nyse.com/about/listed/lcddata.html?ticker=AP AP
  4. 1 2 AP - Ampco-Pittsburgh Corp. - Google Finance
  5. ↑ "Annual report for 2005".
  6. ↑ ESPN - NFL approves Rooney's ownership plan

External links

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