A news release issued by SFI of Ohio on Wednesday has announced that on Dec. 22, Steel Warehouse signed an agreement with M&J Industries to acquire “substantially all of the operating assets” of M&J's New Boston site, while future plans for the company also include phasing out M&J's plant in Lucasville.

Steel Warehouse is based in South Bend, Ind., and is the parent company of SFI of Tennessee. In acquiring M&J's New Boston location, the plant will be known as SFI of Ohio.

New Boston Mayor James Warren said he did not believe this would affect jobs at the plant.

“It means that they've just changed hands. They're going to continue operations, and from my understanding they will increase their production, too,” Warren said.

Raymond Balzer, of SFI of Ohio in New Boston, said there are no layoffs expected in this agreement.

“We're looking forward, if anything, to some growth,” Balzer said.

He also said there only are four employees working in Lucasville, and they would be moved to the New Boston plant - which already reportedly employs about 83 people. Over the next few months, he said, the Lucasville facility will be phased out entirely.

No further information was available at press time.