Sumitomo Acquires Norton Manufacturing Company
November 24, 2008—
Sumitomo Metal Industries, Ltd. and Sumitomo Corporation have completed the acquisition of Norton Manufacturing Company, a manufacturer of machined crankshafts for engines, compressors and pumps based in Fostoria, Ohio. The company, now known as SMI Crankshaft LLC, will continue to operate out of Ohio.
The acquisition allows Sumitomo to enter the machining business (lathe turning, polishing and heat treatment) for the first time and enables the company to establish an integrated manufacturing system, from metal manufacturing to forging and machining.
"We can be closer to our customers with this acquisition," says Mitch Koboshi, executive vice president of SMI Crankshaft LLC. "We're now the only crankshaft manufacturer in the world to have all the capabilities of steel making, forging and machining of heavy duty crankshafts within the group."