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Spang, Chalfant and Company was originally founded by Henry Spang in 1894 as the Etna Iron Works and later as Spang & Company, a Pittsburgh iron and steel manufacturer that was instrumental in the founding of Etna, Pennsylvania (across the Allegheny River from Pittsburgh). Later, when John Weakley Chalfant became a major investor in Henry Spang's company the name was changed to Spang, Chalfant and Company, which would become a major manufacturer of much of the steel produced in Pittsburgh. The company was a competitor of Andrew Carnegie in the early 1900s, and Henry Spang, John Weakley Chalfant and Andrew Carnegie were the drivers behind the growth of Pittsburgh in the first half of the 20th century.