INDUSTRY NEWS
Componenta to Combine Casting Operations With Ferromatrix Componenta Corporation, Weert,
Netherlands, and Ferromatrix NV, a Van de Wiele NV company, Kortrijk, Belgium, have agreed to combine production of large furan nobake cast- ings into a single metalcasting facility in Kortrijk. Componenta and Ferromatrix NV
will establish a 50/50 joint venture company, which will form in Janu- ary 2016. In a second phase, subject to certain conditions, Componenta has a possibility to become a minority shareholder of Ferromatrix with 40% shareholding. Te joint venture will be 60% owned by Componenta, with Van de Wiele owning the remaining 40%. Tis second phase is planned to be carried out in 2017. Tese measures will have an impact
Linamar Agrees to Joint Venture With
GF Automotive In July, Linamar Corporation,
Guelph, Ontario, Canada, reached an agreement with GF Automo- tive, a division of Georg Fischer AG, Schaffhausen, Switzerland, to provide integrated light metal castings and machining solutions to global custom- ers in the automotive, industrial and commercial industries. Te partnership was formed with
the goal of utilizing combined resourc- es and capabilities to provide solutions for large powertrain, driveline and structural components. Linamar and GF Automotive have agreed to build a new jointly-owned metalcasting facil- ity in the southeastern U.S. Te facility is scheduled to begin production in mid-2017. In addition, Linamar plans to offer machining services on-site. “We are very pleased with our
progress in developing our global light metal casting strategy. GF Automotive is a highly respected technical leader in the market, well-known and positioned in the powertrain, driveline and struc- tural components market where we both intend to grow significantly,” said Linda Hasenfratz, CEO, Linamar.
September 2015 MODERN CASTING | 15
on personnel of Componenta’s Dutch operations, including a gradual reduc- tion of approximately 140 employees by October 2016. Currently, Com- ponenta employs approximately 435 employees in the Netherlands. Te cost savings and other benefits based on
these announced measures are estimat- ed to be approximately EUR 6 million annually and be gradually achieved by the year 2017. One-time costs are estimated to be EUR 9 million and write-downs in the balance sheet EUR 3 million during 2015-2016.
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