DEACERO USA Acquires Mid Continent Nail Corp.

                  A name familiar to many pallet companies, Mid Continent Nail Corp of Poplar Bluff, Mo. has a new owner – DEACERO USA. But the company’s president and CEO, David Libla, insists it will be business as usual for customers and employees. The one big difference is that Libla Industries, which operated under the trade name Mid Continent Nail, is changing its name to Mid Continent Steel and Wire, Inc. and hopes to boost production and launch new products.

                  DEACERO USA is owned by Raul, Sergio and David Gutierrez, who have had a longstanding relationship with Mid Continent as a supplier of steel. They also own DEACERO, S.A. de C.V., the largest steel wire manufacturer in Mexico. DEACERO is a leader in scrap processing, steel production, and mesh and wire products manufacturing with a presence in more than 20 countries in the Americas and Europe.

                  Mid Continent has become one of the largest nail manufacturers in the United States and is known for its efficient manufacturing operations based in Poplar Buff, Mo.

                  Mid Continent manufactures machine quality bulk nails and various types of collated nails for industrial and construction markets, including the pallet industry.

                  David Libla will continue as president and CEO of Mid Continent. Both Jeff and Marsha Libla will remain in their current positions as well.

                  David Libla said, “We are proud to manufacture our nails right here in the United States and will continue to do so. One of the reasons we agreed to the deal was because the Gutierrez family shared our values and commitment to American manufacturing.”

                  Although the terms of the deal were not disclosed, the sale was effective February 23, 2012.

                  Libla said, “DEACERO ownership gives Mid Continent several advantages, such as increased financial strength and resources to launch new products, steel technology expertise, and enhanced raw material supply for future growth.”

                  Currently, DEACERO is a $2.4 billion company with a vast lineup of products including wire rod, fencing, bailer wire, wirelines, wire rope, pre-stressed concrete strand, rebar, netting and much more. Building and construction is DEACERO’s core market, followed by agricultural, home and industrial customers.

                  Raul Gutierrez, one of the owners of DEACERO, said, “We want to grow Mid Continent and have the manufacturing presence in the United States, and Poplar Bluff is ideally located in the center of the country, which we see as a competitive advantage.”    

                  Libla explained that Mid Continent hopes to boost production as much as 40% and add possibly 100 employees over the next year or so. Currently, Mid Continent’s facility runs two shifts and has uninstalled capacity to meet future growth opportunities.

                  Mid Continent will first expand by offering staples and new nail products.

                  For more information on Mid Continent visit www.magnumfasteners.com or call 800/TOP-NAIL.