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Ownership group purchases Precision Metal Processing 2005

A new ownership group has purchased the assets of Precision Metal Processing 2005 Inc., Cambridge, Ont., and opened the slitting toll processor under the new entity of Superior Metal Processing.

The new company focuses on toll processing work in the Canadian market, with an interest in expanding sales to the U.S. It is processing stainless steel on a 72- by 0.015- to 0.190-in. by 60,000-lb. slitting line.

The company reports that orders have doubled since the transition.