Revstone Industries LLC reports it has acquired Fairfield, IA-based Dexter Foundry from its parent company, Dexter Apache Holdings Inc. It is the second foundry that Revstone has added to its Cast Metals Group this year, joining the former Grede Holdings foundry in Vassar, MI, which was purchased in late 2009.
Dexter Foundry produces gray and ductile iron castings in various ASTM grades. According to the company's website, the facility features three DISA MK5-Bs molding lines, capable of producing over 300 molds an hour, and three Beardsley & Piper coremaking lines for medium volume castings. Dexter is currently producing more than 8,000 different parts for over 250 customers in industries that include agricultural, railroad, construction equipment, residential appliances, throughout the U.S., Canada, and Mexico.
Also, the foundry offers a range of CNC and manual machining capabilities, as well as heat treating and painting services.
"The acquisition of Dexter Foundry fits into two key facets of Revstone's buying strategy: vertical integration and diversification," stated David Jaeker, president of the Cast Metals Group. He said the move also benefits existing Revstone customers, as well as diversifying the product line and customer base according to Jaeger.
Not only is Revstone pleased to be acquiring a green sand casting operation, it is adding a workforce that Jaeger described as skilled, experienced, and strong. "We will be offering all employees the opportunity to continue working with us, and we are excited to welcome them to the Revstone team."
Dexter Apache Holdings Inc. president and CEO Patrick Albregts alluded to the long term interest of his company to ensure the viability and success of the foundry. "As the industry continues to consolidate, it is increasingly challenging for standalone foundries to remain competitive. We are pleased to be able to partner with Revstone, whose strategic position in the foundry industry will enhance Dexter Foundry's success it the future."
Other companies in the Revstone Cast Metals Group include Contech, Metavation, EPTEC, Texas Die Cast, Burlington, and Tech Cast.
Revstone Adds Dexter Foundry To Its Cast Metals Group
Second gray iron foundry added in two years