A longstanding specialty steel processing business is for sale in Vandergrift.
MSI Corp., at 210 First St., is listed for $9.9 million by listing agent Scott Lewis of Edward Lewis Inc., based in Youngstown, Ohio.
Owners Henry “Duke” and Gisela McLaughlin of Allegheny County, both in their 70s, are looking to retire after operating the family-owned processing plant since 1973.
MSI is one of the largest toll processing companies on the East Coast and specializes in steel grinding, milling and cutting. Toll processing involves taking already manufactured materials and processing them to a customer’s desired specifications.
“He opened up out of a two-car garage in Millvale,” Gisela McLaughlin said of her husband. “We’re focused on selling it as is, and there’s a lot of potential here for it to grow.”
The listing price includes the acreage and equipment.
The sale of the turnkey operation includes retaining all 23 full-time employees.
The property sits on 27 acres tucked away near a residential section of Vandergrift along the Kiski River. The property is zoned industrial.
The 175,000-square-foot plant could be served by Norfolk Southern, but MSI doesn’t utilize rail service. It ships its products nationally by truck.
“The company is nationally recognized for its quality of work of grinding for the titanium industry,” Lewis said. “The business is doing well because many of its products are used in the aerospace market, and this segment of the economy remains strong.”
Gisela McLaughlin said they would prefer a local buyer.
“I’m hoping to sell to someone closer to home and someone who understands the potential,” she said. “It could be someone that’s in the steel business. The equipment we have is all related to steel.”
MSI has occupied multiple locations including Millvale, Oakmont, Apollo, the North Side and, since 1990, Vandergrift.
The property originally was developed for Wean United Corp., a former steel processor and finisher that manufactured steel and iron castings and water-chilled rolls.
The annual borough, county and school taxes total $26,694.
An equipment list is available by request.
