Siemens Acquires Service Guide, Inc

Linz, Austria (PressExposure) July 01, 2013 -- Siemens Industry, Inc. today announced it has completed the acquisition of Service Guide, Inc., an Ohio-based company that has provided repair and refurbishing services for steel and aluminum mills since 1964. The agreement includes three of the company's four local operating facilities in Warren and Cortland, Ohio. The fourth facility, Oakes Foundry, will continue to be owned by the Oakes Family Trust. Financial details of the transaction will not be disclosed.

The acquired facilities provide the steel industry with repair and refurbishing services, as well as the manufacture and sale of spare parts and components. Service Guide, Inc. customers are based in the United States, Canada and Mexico.

Headquartered in Cortland, Ohio, Service Guide, Inc. will be fully integrated into the Metals Technologies Business Unit and Customer Services Division of the Siemens Industry Sector. The acquired Siemens facilities will continue to operate from their current locations, and approximately 110 employees have joined the Siemens business structure.

"The acquisition of Service Guide Inc. will continue to enhance Siemens' capabilities, allowing us to provide a more complete spectrum of service products for our customers," said Gabriel Royo, Vice President, Metallurgical Services, Siemens Industry, Inc. "Combining these portfolios provides steel and aluminum mill customers with a single source for components and equipment services."

"Siemens' resources and access to worldwide markets are key components to growing the business and increasing its global footprint," said Service Guide President Emeritus Grant Oakes. "We look forward to merging our long-term customer relationships and service expertise in the metals industry with the Siemens portfolio."

For further information on services for steel mills, rolling mills and processing lines, please visit usa.siemens.com/industrial-productivity/industrial-productivity.html

Service Guide, Inc. is a leading industrial maintenance service shop for steel and aluminum mills and mining. The company manufactures and repairs a wide variety of parts including chocks, spindles, couplings, roll force cylinders, bearings, mill rolls, copper rolls, guides and liners. Headquartered in Cortland, Ohio, Service Guide, Inc. employs 140 team members and has 393,000 square feet of manufacturing capacity.

About Siemens

The Siemens Industry Sector (Erlangen, Germany) is the world's leading supplier of innovative and environmentally friendly products and solutions for industrial customers. For more information, visit www.siemens.com/industry

Press Release Source: http://PressExposure.com/PR/Siemens.html

Press Release Submitted On: July 05, 2013 at 8:32 am
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