Dallas-based Trinity Industries Inc., which closed its Tulsa plant in 2008, is acquiring Otter Tail Corp., DMI Industries.
The Minnesota-based Corporation announced late Thursday in a news release it is selling DMI for $20 million just weeks before its planned closure and the layoff of 167 people.
Plants, other properties and equipment in Tulsa, Fort Erie, Ontario, and West Fargo are included in the deal.
The deal is not expected to close until late in the fourth quarter, according to a statement from Trinity. It is not certain whether the change in ownership will have any bearing on the workers at the Tulsa plant, located at 15300 Tiger Switch Road.
Otter Tail said in August the continued uncertainty in the wind-energy market led to the closing of the DMI-Tulsa plant, including the lack of a production energy tax credit renewal from Congress.
A government report warned that thousands of U.S. jobs would be lost if the renewal is not passed at the end of the year.
According to the U.S. Energy Report released last month, wind power represented 32 percent of all new electric capacity additions in the United States last year and accounted for $14 billion in new investment.
The percentage of the equipment made in America also increased dramatically. Nearly 70 percent of the equipment installed at U.S. wind farms last year came from domestic manufacturers like the DMI-Tulsa plant.