ParkOhio Announces Canton Drop Forge's State-of-the-Art 50,000-Pound Forging Hammer Implementation

ParkOhio Announces Canton Drop Forge's State-of-the-Art 50,000-Pound Forging Hammer Implementation
Canton, OH, June 22, 2023 --( ParkOhio (NASDAQ: PKOH), through its subsidiary, Canton Drop Forge, one of the leading global producers of high-strength, complex metal components, is proud to announce the integration of a 50,000-pound forging hammer into its Canton Drop Forge facility, located at 4575 Southway St. SW.

The significant investment of $18.5 million paves the way for the production of larger steel components to cater to a diverse clientele including aerospace, U.S. military, rail, private airlines, and oil and gas industries.

The new forging hammer, a year-long project completed in April 2023, required the construction of a 60-foot-deep foundation with 5.5 million pounds of concrete for an ionterial block and vault. This strategic move marks the largest investment in years at the Canton Drop Forge facility, bolstering its advanced forging capabilities.

"This investment will expand our capabilities, enhancing our capacity to produce larger, more complex components for a broad spectrum of markets," said John Silvestro, Vice President of Sales and Marketing at Canton Drop Forge.

Surpassing the facility's existing two 35,000-pound hammers, the 50,000-pound unit, is now the largest at the site. However, Silvestro adds, "While there may be larger hammers globally, our new addition holds substantial relevance in the Ohio and US forging industry."

Sourcing components from ParkOhio's sister facility, Kropp Forge in Cicero, Illinois, the forging hammer shapes alloy steel heated up to 2,300 degrees into high-strength parts.

To celebrate this milestone, Canton Drop Forge hosted an open house on June 10 at its Southway St. SW facility. For the first time in over two decades, the facility opened its doors to the public, offering an exciting opportunity to experience the operations first-hand. Over 1,500 people attended the all-day event.

"Providing industry professionals a sneak peek into our operations, we demonstrated how our cutting-edge technologies allow us to continue meeting the evolving needs of our clients," stated Sales Coordinator at the facility.

Established in 1903, Canton Drop Forge has a long-standing history of producing crucial components for the U.S. government during World War II. The Southway facility, established in 1942, continues to thrive, strengthening its legacy of quality and commitment to the forging industry.

About ParkOhio
ParkOhio is a diversified international company providing world-class customers with a supply chain management outsourcing service, capital equipment used on their production lines, and manufactured components used to assemble their products. Headquartered in Cleveland, Ohio, ParkOhio operates more than 125 manufacturing sites and supply chain logistics facilities worldwide, through three reportable segments: Supply Technologies, Assembly Components, and Engineered Products.
Lindsay Smith