Insteel Snapshot
Insteel's history dates back to 1953 with the acquisition of a ready-mix concrete and concrete block plant located in Mount Airy, North Carolina by Howard O. Woltz, Jr., our founder. In the ensuing years, Insteel expanded into precast concrete and other concrete products. In 1974, we entered the wire products business in response to a shortage of welded wire reinforcement ("WWR") for our precast concrete operations. We subsequently expanded our wire products businesses through both acquisitions and investments in state-of-the-art greenfield facilities.
During the 1980s, we divested our concrete operations and from 1997 to 2006, we completed a series of divestitures to further narrow our strategic focus to our concrete reinforcing products businesses, WWR and PC strand, in which we have ascended to market leadership positions. Since 2010, we have completed a series of strategic acquisitions, acquiring the WWR business of Ivy Steel & Wire, Inc. in 2010, the PC strand business of American Spring Wire Corp. in 2014, Ortiz Engineered Products in 2017 and Strand-Tech Manufacturing, Inc. in 2020.
Insteel Industries is the nation's largest manufacturer of steel wire reinforcing products for concrete construction applications. We manufacture and market prestressed concrete strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement, and standard welded wire reinforcement. Our products are primarily sold to manufacturers of concrete products that are used in nonresidential construction. We estimate that approximately 85% of our sales are related to nonresidential construction and 15% are related to residential construction.
During the 1980s, we divested our concrete operations and from 1997 to 2006, we completed a series of divestitures to further narrow our strategic focus to our concrete reinforcing products businesses, WWR and PC strand, in which we have ascended to market leadership positions. Since 2010, we have completed a series of strategic acquisitions, acquiring the WWR business of Ivy Steel & Wire, Inc. in 2010, the PC strand business of American Spring Wire Corp. in 2014, Ortiz Engineered Products in 2017 and Strand-Tech Manufacturing, Inc. in 2020.
Insteel Industries is the nation's largest manufacturer of steel wire reinforcing products for concrete construction applications. We manufacture and market prestressed concrete strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement, and standard welded wire reinforcement. Our products are primarily sold to manufacturers of concrete products that are used in nonresidential construction. We estimate that approximately 85% of our sales are related to nonresidential construction and 15% are related to residential construction.