American National Carbide invests $4 million to grow the company

Published
February 06,2020 - 01:30pm

American National Carbide (ANC), a leader in the manufacture of tungsten-carbide products for the energy and metalworking industries, announces a $4 million 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,” said 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,” Stroud said. “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,” Stroud added. “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. 

Related Glossary Terms

  • metalworking

    metalworking

    Any manufacturing process in which metal is processed or machined such that the workpiece is given a new shape. Broadly defined, the term includes processes such as design and layout, heat-treating, material handling and inspection.