$7 million upgrade underway in Akron
Niagara Specialty Metals is undergoing a $7 million upgrade of its steel-rolling operations in Akron.
It is the largest such project in the history of the company, which was founded in 1982. The steel produced there is used by industries including cutlery, medical, aerospace and defense.
The upgrade is unfolding in three stages.
Niagara Specialty Metals added a 15,000-square-foot expansion, to allow for current and future equipment installations.
The company has also installed a continuous natural gas furnace, replacing four small electric box furnaces. In the final phase, expected to be completed early next year, Niagara Specialty Metals will install a new rolling mill that incorporates automation.
The company expects to reduce its energy consumption, while also installing a 750,000-kilowatt solar farm next year.
Niagara Specialty Metals has 40 employees, all of whom are part of the company's Employee Stock Ownership Plan.