New Owner of Cold-Finish Equipment Manufacturer Looks to Streamline Production
07/20/2016 - Pennsylvania-based Big B Manufacturing has acquired cold-finished machine maker Hetran Inc. out of bankruptcy for US$765,000, according to reports.
The deal was finalized in mid-June, The (Allentown, Pa.) Morning Call reported.
“(Hetran) has an exceptional line of products, and I’m excited to bring the Big B philosophy of leadership and management to (Hetran) customers,” said Rusty Blyler, the second-generation owner and president of Big B Manufacturing, said in a statement to AIST’s Steel News.
Through the deal, Hetran has been renamed Hetran-B Inc. It will remain separate from Big B Manufacturing and will maintain its existing product line, which includes bar peelers and its new CPDM combined processing line.
Big B had been a supplier to Hetran. Now it will share its manufacturing know-how with Hetran as it attempts to streamline its production process and improve its on-time delivery rates.
Byler will serve as Hetran-B’s president. His son, Skip, who served the plant manager for Big B Manufacturing, has been named vice president.
“Now that Skip is the new vice president at Hetran-B, we are excited to work with the excellent team of employees in place to continue building state-of-the-art machinery,” Blyler said in the statement.
According to The Morning Call, Hetran and its former chief executive were indicted in 2012 on charges that they attempted to export a horizontal lathe to Iran via the United Arab Emirates, defying the U.S. trade embargo against the country. The company and the former executive pleaded guilty and were sentenced to 12 months of probation.
Hetran filed for Chapter 11 bankruptcy in February.
“(Hetran) has an exceptional line of products, and I’m excited to bring the Big B philosophy of leadership and management to (Hetran) customers,” said Rusty Blyler, the second-generation owner and president of Big B Manufacturing, said in a statement to AIST’s Steel News.
Through the deal, Hetran has been renamed Hetran-B Inc. It will remain separate from Big B Manufacturing and will maintain its existing product line, which includes bar peelers and its new CPDM combined processing line.
Big B had been a supplier to Hetran. Now it will share its manufacturing know-how with Hetran as it attempts to streamline its production process and improve its on-time delivery rates.
Byler will serve as Hetran-B’s president. His son, Skip, who served the plant manager for Big B Manufacturing, has been named vice president.
“Now that Skip is the new vice president at Hetran-B, we are excited to work with the excellent team of employees in place to continue building state-of-the-art machinery,” Blyler said in the statement.
According to The Morning Call, Hetran and its former chief executive were indicted in 2012 on charges that they attempted to export a horizontal lathe to Iran via the United Arab Emirates, defying the U.S. trade embargo against the country. The company and the former executive pleaded guilty and were sentenced to 12 months of probation.
Hetran filed for Chapter 11 bankruptcy in February.
