As of June 2019, Erie Press Systems has merged with Ajax-CECO under parent company Park Ohio (NASDAQ: PKOH).
Park Ohio’s acquisition of Erie Press Systems adds hydraulic press and stretch forming equipment to its selection of mechanical and hammer forging presses offered under the Ajax-CECO brand. By manufacturing and supporting all three brands, Park Ohio effectively becomes the largest forging equipment manufacturer in North America, according to the company.
“By acquiring Erie Press Systems, we expand our engineering, manufacturing and service capabilities, control costs more effectively, and benefit from economies of scale when working with our core suppliers,” says Ken Copeland, president of Ajax-CECO. “The goal is to become a one-stop provider of new, rebuilt and remanufactured equipment for a variety of traditional and advanced forging applications, along with providing full service and timely support.”
According to Copeland, part of the appeal of the acquisition is that Erie Press Systems’ extensive hydraulic press capabilities complement the equipment offered by Ajax-CECO.
Erie Press Systems dates back to 1895 when the company originally began as the Erie Foundry Company. Today, the company offers a line of standard mechanical forge presses as well as hydraulic presses for a variety of applications including forging (closed die, open die, and ring preforming), metalforming, carbon extrusion, composite presses, and stretch forming machines—as well as support for a legacy line of forging hammers.
“Combined, the three companies have been in existing for more than 350 years,” explains Copeland. “That means we can make equipment, parts, support and service for all three brands more readily available from a single source here in North America, while also increasing our ability to compete with overseas providers.”