Bristol’s Theis Precision Steel tower complex will begin humming with activity after sitting idle for two years, as workers start operations there for Chicago-based Combined Metals, which bought the now-defunct Theis Precision Steel USA’s assets.
Combined Metals, which processes and distributes specialty metals, acquired the 300,000-square-foot manufacturing plant to serve as its East Coast branch, a statement from the company said. Once the site is ready for workers, 10 to 20 employees will work from the building on 340 Broad St. to start. The company intends to add a second shift next year.
“One of the city’s primary concerns at the time of the plant’s closure was working with the skilled employees that were suddenly out of work,” Bristol Mayor Ellen Zoppo-Sassu said. “We are happy that seven local employees have been hired as part of Combined Metals’ new operation.”
In June of 2019 Theis, which manufactured metal components for the housing, medical, construction and automotive industries at 300 Broad St., announced it terminated 30 of its 35 workers, and would idle the plant.
Theis’ German corporate parent company sold the operation to private investment group TPS Acquisition in Jan. 2014. Theis employed about 90 people at the time of the sale, and had 240 employees in 2001, according to a report by the Middletown Press.
In a statement, Combined Metals President Jeffrey Nystrom said the acquisition of Theis’ assets would help the company’s expansion efforts.
“The acquisition of the Theis Precision Steel assets in Bristol, CT expands Combined Metals’ precision stainless rolling capabilities and solidifies our position as the largest independent processor and distributor of precision flat-rolled products for high performance applications,” Nystrom said.
