Glunt Industries

gluntF.N.B. Capital Corporation participated in a recapitalization of Glunt Industries with investors Merit Capital Partners and the company management. Located in Warren, Ohio, Glunt Industries is a world-renowned remanufacturer and service provider of equipment to U.S. steel and aluminum mills. The company reconditions, rebuilds, upgrades and extends the service life of virtually every type of equipment used in the production of steel and aluminum, with industry-leading expertise in restoring mandrels, mandrel bars, chocks and rolls. These repair and refurbishment services are critically important to the profitability of metal producers as equipment can often be refurbished to exacting tolerances for less than the cost of replacement. F.N.B. Capital invested in both the subordinated debt and equity in support of the recapitalization. More information can be found by visiting Glunt’s website at www.glunt.com.

 

F.N.B. Capital Corporation Participates in the Majority Recapitalization of Glunt Industries

Pittsburgh, PA – April 12, 2012 – F.N.B. Capital Corporation, a Pittsburgh-based provider of mezzanine debt and equity and the merchant banking subsidiary of F.N.B. Corporation (NYSE:FNB), announced today that it participated in a recapitalization of Glunt Industries with investors Merit Capital Partners and Glunt management.

Located in Warren, Ohio, Glunt Industries is a world-renowned remanufacturer and service provider of equipment to U.S. steel and aluminum mills. The company reconditions, rebuilds, upgrades and extends the service life of virtually every type of equipment used in the production of steel and aluminum, with industry-leading expertise in restoring mandrels, mandrel bars, chocks and rolls. These repair and refurbishment services are critically important to the profitability of metal producers as equipment used in steel and aluminum production can often be refurbished to exacting tolerances for less than the cost of replacement.

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