Ampco‑Pittsburgh announced today that its wholly‑owned subsidiary Union Electric Steel Corporation has exited its U.K. cast‑roll operations. The exit became effective October 14, 2025, when UES‑UK was placed into administration, eliminating the operating losses that had been incurred by the U.K. subsidiary.
The company expects an annualized increase of $7 to $8 million in adjusted EBITDA as a result of the exit. In Q4 2025, Ampco‑Pittsburgh will recognize a non‑cash charge of $43 to $45 million, comprising a $23 million write‑down of the investment and a $29 million other comprehensive loss, offset by a $7 to $9 million credit from lenders that reduces its revolving credit facility balance.
The divestiture removes a loss‑making asset and frees capital for core operations. Capacity utilization at the Sweden cast‑roll facility is expected to rise significantly, and the move reduces exposure to high energy costs and import competition in the U.K., strengthening the company’s long‑term profitability.
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