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Considerable cloudiness with occasional rain showers. High 48F. Winds light and variable. Chance of rain 40%..
Partly cloudy early followed by cloudy skies overnight. Low 33F. Winds light and variable.
Pictured are the employees of what had been known as Elizabeth Carbide Die Co. of Lexington standing at the company’s new sign with its new name.
Pictured are the employees of what had been known as Elizabeth Carbide Die Co. of Lexington standing at the company’s new sign with its new name.
Pictured are the employees of what had been known as Elizabeth Carbide Die Co. of Lexington standing at the company’s new sign with its new name.
Pictured are the employees of what had been known as Elizabeth Carbide Die Co. of Lexington standing at the company’s new sign with its new name.
Pictured are the employees of what had been known as Elizabeth Carbide Die Co. of Lexington standing at the company’s new sign with its new name.
Pictured are the employees of what had been known as Elizabeth Carbide Die Co. of Lexington standing at the company’s new sign with its new name.
LEXINGTON —A nearly 50-year-old Davidson County manufacturer has been purchased for $3.9 million by a company based in Japan.
Daido Steel Co. Ltd. reached an agreement to acquire Elizabeth Carbide Die Co. on March 7. The hot forging die manufacturing business with a former headquarters in Pennsylvania will now be called Lexington Technologies Co. and be part of the Daido Steel.
“No employees were laid off,” Plant Manager Jimmy Day said. “Everyone stayed. We plan on growing and expanding in the next couple of years. Our goal is to have 30-40 people in the next two years.”
Daido has a manufacturing base in North America named Ohio Star Forge Co. The CEO of the Ohio group is Carl Paglia.
“By acquiring the hot forging die manufacturing business, which is an upstream process in OSF, we aim to further increase earnings and strengthen competitiveness,” Paglia said. “In addition, changes in the layout of excess space at the acquired plant will also enable us to expand capacity in the machining business, which is expected to see rising demand in the future.”
Elizabeth Carbide Die Co., at 5801 E. U.S. 64, opened in Lexington in 1977.
A press release about the purchase said that there are 24 employees at Lexington Technologies Co.
The Lexington campus is also being expanded and remodeled, he added.
Jill Doss-Raines is The Dispatch trending topics and personality profiles senior reporter and is always looking for tips about businesses and entertainment events, secret and new menu items and interesting people in Davidson County. Contact me at jill.doss-raines@the-dispatch.com.
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