Insteel Industries completed the acquisition of Strand-Tech Manufacturing for $22.5m.

Insteel Industries, a manufacturer of steel wire reinforcing products, completed the acquisition of Strand-Tech Manufacturing, a manufacturer of prestressed concrete strand, for $22.5m. "The STM acquisition represents a significant milestone for our PC strand business. We believe the consolidation of facilities will strengthen our competitive position by leveraging our operating costs and optimizing our manufacturing footprint," H.O. Woltz III, Insteel President and CEO.