Irving, Texas-based PrimeSource Building Products has announced the acquisition of Progressive Steel and Wire. In doing so, the building material distributor says its paved the way for more U.S. jobs.
PSW was previously part of a joint venture between Dubai Wire and PrimeSource, but with PrimeSource now taking 100 percent ownership and control, the company says it intends to bring nail and wire product manufacturing back to the US, creating new local jobs.
“We are excited to meet the demand for high quality, domestically produced collated nails by taking full ownership of Progressive Steel and Wire,” the company said in a joint statement from Ken Fishbein and Mona Zinman, co-chief executive officers of PrimeSource Building Products. “Our goal is to bring nail and wire product manufacturing back to the USA and to create more jobs here at home.”
Progressive Steel and Wire LLC is currently reformatting its Dallas-based nail production facility which is expected to result in a broader mix of products. All products manufactured in this facility and future facilities will be available exclusively through the 42 distribution centers of PrimeSource across North America.
In addition to the more than 100 new jobs created in the Dallas location, PSW plans to open additional production plants in strategic locations throughout the United States and Canada, the company said.