Insteel Industries has announced its acquisition of Engineered Wire Products (EWP) for $70 million through its subsidiary, Insteel Wire Products.

The acquisition was financed using the company's cash reserves, ensuring a smooth transaction.

H.O. Woltz III, President and CEO of Insteel, emphasized that this acquisition will enhance the company's geographic reach and bolster its competitive position in the Midwest market.

EWP has demonstrated strong financial performance, reporting sales of $93.3 million for the twelve months ending September 30, 2024.