INDUSTRY NEWS
Alcoa Acquires Titanium Casting Company Alcoa, Pittsburgh, announced its
acquisition of TITAL, a privately held manufacturer of titanium and aluminum structural castings for aircraft engines and airframes. Alcoa closed the transaction, announced December 15, 2014, after receiving all of the required global regulatory approvals.
This acquisition strengthens
Alcoa’s ability to capture growing demand for advanced aircraft engine components, in particular, those made of titanium. TITAL provides Alcoa with titanium casting capa- bilities in Europe and expands its overall aluminum casting capacity. Additionally, TITAL’s connections
to European engine and aircraft manufacturers, such as Airbus, SNECMA and Rolls-Royce, will enhance Alcoa’s customer relation- ships in the region and beyond. “We are combining two lead-
ing, innovation-driven businesses to continue increasing Alcoa’s highly differentiated content on the world’s best-selling airplanes and jet engines,” said Olivier Jarrault, ex- ecutive vice president, Alcoa. “This transaction supports our strategy of creating a more profitable future by growing our value-add businesses. Through these efforts, Alcoa will continue delivering greater sus- tainable value for our customers, employees and shareholders.” Almost 70% of TITAL’s revenues
Alcoa acquired TITAL to meet growing demand for titanium components in the aerospace industry.
are expected to come from commercial aerospace sales in 2019. Furthermore, its titanium revenues are expected to increase by 70% over the next five years as jet engine manufacturers turn to titanium for structural components. In 2014, TITAL generated revenues of approximately $100 million, more than half of which came from titanium products.
Cascade Die Casting to Expand in High Point Cascade Die Casting Group Inc.,
Grand Rapids, Mich., will expand two locations in south High Point, Mich., that will create 25 full-time jobs and add an estimated $6 million to the local tax base. Cascade will increase both diecasting and machining capacity and meet demand from the automotive industry. “Our company is pleased to an- nounce that we have chosen High Point for our expansion project,” said Phil Torchio, CEO, Cascade. “Over the years we have successfully grown our operations in High Point and look forward to that growth continuing. We worked closely with the staff of the High Point Economic Develop- ment Corp. and thank them and the
8 | MODERN CASTING June 2015
city officials who helped partner with us to make this expansion possible.” Te company is moving forward with the expansion after the High Point City Council approved $75,000 in incentives in March. Loren Hill, president of the High Point Econom- ic Development Corp., chose High Point after considering expansion op- tions in other locations in Michigan and Mexico. “It is very good news that the com-
pany continues to invest in our city while adding quality manufacturing jobs for our residents,” Hill said. Founded in 1978, Cascade manu-
factures aluminum and zinc diecast products for about 50 customers in the U.S.
Effort to Expand With $1.7M Loan
Effort Foundry in Bath, Pa., recently
received a $400,000 low-interest loan from the Pennsylvania Industrial Development Authority (PIDA). Te funds will be used to purchase equip- ment to improve finishing capabilities. Te metalcasting facility’s capital will come as a 7-year 3% loan. Te total cost of the expansion is expected to be $1.68 million. “Te proceeds from our PIDA loan
will play a significant role in shaping Effort Foundry’s future,” said Charlie Hamburg, CEO. “It will enable Effort to acquire the tools we need to begin supplying our customers with rough or finished machined parts in place of ‘as cast’ parts.”
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