The Ohio Department of Development has awarded a contingency grant to Latrobe Specialty Steel Company recognizing the Wauseon plant's creation of 31 new full time jobs and the retention of existing jobs.

Latrobe's Wauseon plant will use the grant to purchase new equipment for its growing precision wire manufacturing business.

Mr Dudley Merchant VP for Business Development at Latrobe said that "We are grateful to Ohio for their support. Latrobe ships this highly engineered wire globally. The company will further expand capacity this summer with the installation of technologically advanced hydrogen atmosphere furnaces which will improve output at the Wauseon plant. This expansion will require approximately USD 3 million of additional investment."

Latrobe doubled its workforce since June 2010 using both internal recruiting as well as job placement agencies to fill skilled manufacturing positions.

Mr Mark D Kvamme director of the Ohio Department of Development said that "We welcome Latrobe Specialty Steel’s manufacturing experience and will continue to provide the necessary tools needed to create and retain jobs in Ohio."

Ms Lisa Arend director of Fulton County Economic Development said that "The Ohio grant and Latrobe’s expansion in Wauseon will contribute stability to our local economy for years to come."

The industrial bimetal saw market buys Edgewire, an enhanced value-added, small diameter, rectangular, high speed steel wire. The market, previously served by European producers, includes manufacturers of band saws, hacksaws, reciprocating saws, hole saws and utility knives. Latrobe sources the high speed steel from its Pennsylvania steel mill.

For precision stainless steel wire, Latrobe melts the stainless steel in Pennsylvania, ships it to Wauseon and then draws the wire to the exact standards demanded by its customers in the market for implantable medical devices. The medical market appreciates Latrobe’s penchant for highly homogenous, triple melted, closely inspected steel.