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INDUSTRY NEWS


New Grede Adds to Metalcasting Holdings Grede Holdings LLC, Southfield,


Mich., has completed the acquisition of the casting and machining assets of Paxton-Mitchell Corp., Omaha, Neb. Grede will change the name of the


division to Grede Omaha LLC. Grede officials indicated the acquisition will strengthen the company’s position in the heavy truck and industrial markets but did not disclose the financial terms of the transaction. “Tis latest acquisition represents


Grede’s commitment to the industrial and heavy truck iron casting market,” said Doug Grimm, Grede’s chairman, president and chief executive officer. “We have focused on diversifying our business model, and now 60% of our revenues are...nonautomotive.” Te newly acquired facility currently employs 75 people, and Grede expects


Magna Buys Four Diecasters Cosma International, Brampton,


Ontario, Canada, announced it has signed an agreement to acquire the four diecasting operations of BDW Tech- nologies Group, Schwaben, Germany. Cosma, an operating unit of Magna


International Inc., will acquire two op- erations in Germany, one in Poland and one in Hungary. BDW’s four facilities perform vacuum high-pressure alumi- num diecasting and expect full-year 2011 total sales of about $216 million. Cosma acquired aluminum perma- nent mold caster Grenville Castings Ltd., Smiths Falls, Ontario, Canada, in August. Grenville Castings supplies structural castings to the automotive, heavy truck and recreational markets. “Te technologies gained from


BDW will complement the low-pres- sure casting capabilities we recently acquired from Grenville Castings,” said Horst Prelog, company president. Te company expects the trans-


action to be completed in the first quarter of 2012.


Cosma has 47 manufacturing facili- ties and 25 product development and engineering centers worldwide.


December 2011 MODERN CASTING | 9


to expand employment in 2012 as business is transferred into Omaha from its other metalcasting assets. Te new Grede was formed in


2010 through the combination of assets of the former Grede Foundries Inc., Blackhawk Foundry (USA) and


Citation Corp. With estimated annual revenues approaching $1 billion, the company specializes in ductile, gray and specialty iron castings. Te company has 5,000 employees and operates 16 metalcasting facilities and four machin- ing operations in North America.


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