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Steel Processors Acquires Mobile Pulley

Steel Processors, Inc., Theodore, Alabama, has acquired Mobile Pulley & Machine Works, and will run it “the way it was run 10 years ago” said Billy Prine, president of Steel Processors.

Metso Minerals in turn purchased the small pump product lines and the Florida cutter line from Steel Processors.

Steel Processors was the high bidder at a court-approved auction on January 13, held in the Mobile Pulley offices. The sale was approved at the bankruptcy court hearing on January 16.

Steel Processors acquired all the assets of the company, including physical plant, real estate, intellectual property, inventory, machinery and product lines, for $2.4 million.

“It’s a nice facility,” said Prine. “It needs a little repair, but we’re operating the machine shop now, and will be fully running soon,” he said.

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