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In 1971, due to the death of Harold Oswald, the company was sold to Louis S. Goltermann Sr. and Louis S. Goltermann, Jr. In 1976, the name of the sales office in St. Louis was changed from Oswald Refractories Company to St. Louis Refractories Company. In 1985, the sales office of St. Louis Refractories Company merged with the manufacturing facility at Alsey, Illinois and both the sales and the manufacturing facilities became known as Alsey Refractories Company. In 1982, Louis S. Goltermann, Sr. passed away at the age of 71. In 1986, Louis S. Goltermann, Jr. became the sole owner when the remaining shares were purchased. In October 1995, Louis S. Goltermann III joined the company, bringing the current ownership into the third generation.
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