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Insteel Industries ( (IIIN) ) just unveiled an update.
Insteel Industries Inc. has acquired Engineered Wire Products Inc. for $70 million, expanding its footprint in the Midwest market and enhancing its competitive edge in the construction industry. The acquisition, funded with cash on hand, aims to improve customer service and reduce operating costs through synergies. Insteel, the largest U.S. manufacturer of steel wire reinforcing products, sees this strategic move as a way to bolster its position in the nonresidential and residential construction sectors.
For an in-depth examination of IIIN stock, go to TipRanks’ Stock Analysis page.