EMPORIUM — Keystone Automatic Technology Inc., of Emporium has been sold to Metal Kraft Industries of Wellsboro, announced stockholders Al Barry and Dr. Charles Blumle.
The sale was effective July 1.
Keystone Automatic Technology is a manufacturer of metal parts made from wire and has customers located nationally and internationally. The sale price was not disclosed.
The company started operations at the end of Cherry Street in Emporium, and in 1985 moved to the end of South Maple Street in the newest Sylvania building, where they continue operations. Officials said the business has grown to more than 30 employees and enjoys continued success.
Barry and Blumle said retirement, along with a strong interest in the company to continue in Emporium and having the employees keep their jobs, was the motivation for the sale.
Metal Kraft Industries is a family owned and oriented business started by Wayne Singer in 1983, who retired 13 years ago and has been run since by three of his children. Aaron Singer, president, has a family last name familiar in Emporium and the surrounding area.
In addition to having relatives operating businesses in the area, Metal Kraft, a powder metal manufacturer, is a familiar customer of many of the Emporium and St. Marys tooling and secondary firms.
Officials said Metal Kraft offers management in their 40s that is young enough and with the financial strength to make investments that look decades into the future and proven business experience to manage those plans. Metal Kraft has plans to grow the company while remaining in Emporium and increasing its relationship with the area.
