Insteel Industries, Inc., announced that its wholly owned subsidiary, Insteel Wire Products Company, has acquired Engineered Wire Products, Inc. (EWP) for $70 million in an asset transaction subject to certain adjustments.

A press release said that Liberty sold EWP, a manufacturer of welded wire reinforcement products for use in nonresidential and residential construction, with primary manufacturing facilities located in Upper Sandusky and Warren, Ohio. The EWP plants have approximately 120 employees, who now work for Insteel. EWP, a subsidiary of Liberty Steel, is a manufacturer of welded wire reinforcement products for use in nonresidential and residential construction.

“We are pleased to complete the acquisition of EWP,” Insteel President and CEO H.O. Woltz III said in a statement that noted that the move will expand Insteel’s geographic footprint and bolster its competitive position in the Mid-west market. “The acquisition of EWP will enhance our customer service capabilities and drive down operating costs through operational synergies.”

 Insteel is the largest U.S. manufacturer of steel wire reinforcing products for concrete construction applications. It manufactures PC strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement. Headquartered in Mount Airy, North Carolina, Insteel operates 12 manufacturing facilities in the U.S.