Economy

UPG Enterprises Acquires Orchid Monroe
Written by Becca Moczygemba
August 2, 2022
UPG Enterprises LLC announced its acquisition of Orchid Monroe LLC, a manufacturer of electrical steel laminations, electric motors and generator cores, and lamination tooling.
Wisconsin-based Orchid’s additional capabilities include engineering, prototyping, tool design and building, steel slitting, high speed lamination stamping, and annealing.
Jeffrey Dwyer, CEO of UPG, stated, “Today’s announcement is another step in UPG’s commitment to invest in the rapidly growing electrical steel market. Orchid’s unique engineering capabilities allow for our immediate expansion into the rotor, stater, transformer, and electric vehicle arena. As electric infrastructure is upgraded and market adoption of electrical steel engineered solutions continues, I am excited about the synergies and new offerings we will be able to support in the immediate future.”
Chicago-based UPG Enterprises, with 25 locations throughout North America, operates a diverse set of industrial companies focused on metals, manufacturing, distribution, and logistics.
Have some news or just want to talk shop? Email me!
By Becca Moczygemba, Becca@SteelMarketUpdate.com

Becca Moczygemba
Read more from Becca MoczygembaLatest in Economy

Fewer manufacturers optimistic about the economy
PMA’s April report shows that only 16% of surveyed manufacturers anticipate an increase in economic activity in the next three months (down from 23% in March)

Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.

Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.

New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey

Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.