BTD buys Miller Welding, to focus on wind energy
BTD Manufacturing, Inc., Detroit Lakes, announced recently that it has acquired Miller Welding & Iron Works of Washington, Ill.
BTD Manufacturing is an operating company of Otter Tail Corporation.
The transaction, the terms of which were not disclosed, involved an exchange of cash for assets.
Miller Welding employs 120 people and generated annual revenues of approximately $26 million in 2007.
BTD Chief Executive Officer Chuck Hoge, who is also the manufacturing platform vice president at Otter Tail Corporation, said the acquisition will open up opportunities to expand in existing and new markets.
"This is welcome news for the respective customers of BTD and Miller Welding. The complementing production capabilities greatly expand the scope and capacity of what both companies can now offer," Hoge said.
"And, while Miller Welding currently derives only a small portion of its revenues from the wind energy sector, it has the capabilities to expand significantly. We expect considerable growth and synergies with BTD and other Otter Tail companies, such as DMI Industries, our wind energy tower manufacturer."
Founded by Richard Miller in 1965, Miller Welding is a custom job shop fabricator and finisher. The company manufactures parts, metal fabrications and machined parts for off-road equipment, mining machinery, oil fields and offshore oil rigs, wind industry components, broadcast antennas and farm equipment.
Based near Peoria, the company serves several major equipment manufacturers in the region and nationwide, including Caterpillar, Komatsu and Gardner Denver.
With the transition to BTD ownership, Richard Miller will retire as president and continue on as a consultant. Sam Miller, currently the vice president, will be appointed president of Miller Welding. tall, graceful and artistic; the other, athletic, perky and cute.
As a complete one-stop shop, BTD offers design, engineering, prototyping and short-run functions, metal stamping, robotic and hand welding, spot welding, finishing machining, riveting, assembly, plating, heat treating and special packaging.
With this acquisition, BTD now employs more than 580 people across its three Minnesota locations and in Illinois. For more information, visit the company's website at www.btdmfg.com.
Otter Tail Corporation has diversified interests, including an electric utility, manufacturing, health services, food ingredient processing and infrastructure businesses which include plastics, construction and transportation. Its stock trades on the NASDAQ Global Select Market under the symbol OTTR.