AFCO Steel, which has plants in Little Rock and Van Buren, said last week it is continuing with “no changes,” even though it sold its majority interest last month to a New York firm.
Alleghany Capital Corp., a subsidiary of Alleghany Corp., bought a majority interest in WWSC Holdings Inc., also known as W&W / AFCO, of Oklahoma City.
AFCO produces steel in six plants for large construction projects, mainly in North America, according to a news release. The purchase price wasn’t disclosed.
Alleghany Capital owns majority positions in companies with “leading positions in niche markets within the business services, consumer products, energy production, and manufacturing sectors,” according to its website.
The news made some of AFCO’s Little Rock workers nervous. But they need not worry, the company said.
Kim Rolston, an attorney for W&W, told Whispers last week that the transaction will “have no impact on the AFCO Steel division whatsoever.”
AFCO has more than 300 workers at its Little Rock plant and a little more than 100 at its Van Buren location.
The company said it is one of the largest structural steel fabrication and erection companies in North America.