ANC Makes Four Million Dollar Investment for Growth

February 6, 2020

HOUSTON, TX - American National Carbide (ANC), a leader in the manufacture of tungsten carbide products for the energy and metalworking industries, announces a four million dollar investment in the future of the company.

"We have invested in infrastructure improvements and equipment upgrades to streamline our manufacturing processes, all in order to improve the quality of our products and the overall customer experience,” says D. Greg Stroud, President and CEO.  “This investment propels ANC into the new decade, well-positioned to handle current business and take advantage of future opportunities.”

After a successful reorganization in 2017, this project is the culmination of a three-year effort to secure suitable financing for the company’s growth plans.  During that time, the company had no working capital or credit facility with which to operate.  “It was sheer persistence and grit that got us through that time period,” says Stroud.  “We were faced with constant adversity, but our team overcame every challenge it faced, with its focus on reaching this day.  We simply never gave up.”

Infrastructure improvements will include new hardware and software systems, significant building renovations, and updated lighting and HVAC throughout the operation, while the extensive equipment upgrades will resolve capacity constraints in critical production areas.  “Another key element of the project was debt reduction,” adds Stroud.  “By simultaneously adding fixed assets and reducing our debt, the result is the strongest balance sheet we’ve had in years.  We’re very excited to be moving this company forward.”

ANC manufactures all of its products at its Tomball, Texas headquarters, including cutting and wear products for the energy industry, indexable inserts and support products for all types of metalworking applications, along with various wear products and tungsten carbide-cobalt powders. 

 

For more information, contact:

American National Carbide
915 South Cherry Street
Tomball, Texas U.S.A. 77375-6669
800-331-7585
www.anconline.com

 

 

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