I news NDUSTRY
South American Tupy Buys Mexico-Based Cifunsa, Technocast Grupo Industrial Saltillo S.A.B.
de C.V., Saltillo, Mexico, announced it has reached an agreement to sell its iron block and head business, which includes Cifunsa Diesel and Technocast, to Tupy S.A., Joinville, Brazil. “We reached an agreement
with Tupy to sell [only] the blocks and heads business produced [on] horizontal molding lines,” said Luis Arenas, strategic planning manager for Grupo Industrial Saltillo’s foundry sector. “The auto parts business produced on vertical molding lines we are keeping and strongly investing in with the recent expansion of our facilities in Saltillo and Irapuato and the agreement we reached with Xignux in August for the acquisition of Tisamatic, a Mexican foundry that produces auto parts like rotors, brake drums and clutch plates.” Technocast is a joint venture
Grupo Industrial Saltillo launched in 2007 with Caterpillar, Peoria, Ill. T e acquisition of Technocast
Aerocast to Increase Production
Nonferrous sand caster Aerocast
Inc., Mesa, Ariz., announced it has secured a loan close to $2 million to increase its production capabilities. Aerocast said it has received
$1,450,000 of the original loan and is in negotiations with the same lender for additional advances. In exchange for the loan, Aerocast
said it granted the lender a security interest on all of its accounts, accounts receivable, inventory, equipment and proceeds. Aerocast produces aluminum and
magnesium castings primarily for the aerospace industry. Its customers include Honeywell Aerospace, Hamilton Sundstrand, Sikorsky Aicraft and Shimadzu Precision Instruments. T e company indicated it is expanding due to high demand for its products and limited competition.
Jan/Feb 2012 | METAL CASTING DESIGN & PURCHASING | 9
and Cifunsa Diesel will move Tupy into the Mexican market, further opening North America to the South American company. According to a statement issued
by Cifunsa, the deal is expected to be completed in the next three months. Operations of all plants involved are expected to continue as usual during the acquisition period.
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