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INDUSTRY NEWS North America


Esco to Change Australian Strategy With Purchase of Austcast (continued from page 8)


agreement expire in June and supply the market directly. “In recent months, Esco has made significant investments in Australia to directly support a growing number of mining and construction customers in the region,” said Cal Collins, president


of Esco’s engineered products division. Austcast manufactures steel cast-


ings for the rail, mining and industrial industries. Doing business as Esco, the company will continue to manufacture rail products and adjust its operations in 2011 to include the purchaser’s ground engaging tools and other mining and


construction wear parts. Austcast and Newlcast employ approximately 100, all of whom Esco said would join its workforce of nearly 4,700 globally. Esco provides consumable products


for industrial applications in the resourc- es, infrastructure, power generation and transportation markets. The company operates on six continents. The purchase of the two casting facilities follows Esco’s July 2010 acquisition of Swift Group, with offices and facilities in Brisbane, Mackay and Kingaroy, Australia. MC


Revstone Buys Dexter Foundry (continued from page 8)


Grede Holdings LLC in December 2009. Dexter Foundry pours approximate-


ly 8,000 different gray and ductile iron cast parts for about 250 customers in the U.S., Canada and Mexico. Accord- ing to a Revstone press release, the addition of the customers is intended to diversify the conglomerate’s auto- motive interests to include agricultural and railroad products, construction equipment, and residential appliance components, among others. “The acquisition of Dexter Foundry


fits into two key facets of Revstone’s buying strategy: vertical integration and diversification,” said David Jaeger, president of Revstone’s castings divi- sion. “We are moving further upstream in our value chain.” Jaeger said all current Dexter workers


will be offered continued employment. “Our long term interest has always


been in ensuring the ongoing viability and success of Dexter Foundry,” said Patrick Albregts, president and chief executive officer of previous owner Dexter Apache Holdings. “As the industry continues to consolidate, it is increasingly challenging for standalone [metalcasting facilities] to remain competitive.” Revstone projects its annual rev-


enues at more than $1 billion. The company operates manufacturing facilities in more than 60 locations in North and Central America and plans to expand into Europe and China. MC


14 MODERN CASTING / January 2011


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