Harvey Industries Adds Diecasting
Aluminum foundry group acquires R.E. Phelon Die-Castings
Harvey Industries, a holding company with operations producing aluminum and iron castings, machined and assembled parts, and polymer injection moldings, has acquired an aluminum diecasting operation. Harvey Industries Die-Casting, LLC is a wholly owned subsidiary of Harvey Industries that has acquired substantially all the assets of the R.E. Phelon Co. Inc. in Aiken, SC.
The value of the transaction was not reported. Harvey Industries reported that the diecasting operation had pro forma sales of approximately $24 million/year, with 130 workers at a 100,000-ft2 plant.
It is the second expansion in less than a year for Harvey Industries. It purchased an aluminum foundry in Nuevo Laredo, Mexico, from Hayes Lemmerz International in June 2010.
Phelon is a diecaster that designs and manufactures engine electronics, ignition systems, alternator-stators, charging systems, and voltage regulators. Its aluminum diecasting operations produce flywheels, castings, and components used in by lawn and garden equipment suppliers, power generation components, commercial lighting fixtures, appliance parts, and other industrial components.
Harvey Industries said the acquisition expands its geographic reach, expands its product range, and will lead to “various synergistic benefits” for the organization, its customers, and suppliers.
Aluminum foundry group acquires R.E. Phelon Die-Castings
Harvey Industries, a holding company with operations producing aluminum and iron castings, machined and assembled parts, and polymer injection moldings, has acquired an aluminum diecasting operation. Harvey Industries Die-Casting, LLC is a wholly owned subsidiary of Harvey Industries that has acquired substantially all the assets of the R.E. Phelon Co. Inc. in Aiken, SC.
The value of the transaction was not reported. Harvey Industries reported that the diecasting operation had pro forma sales of approximately $24 million/year, with 130 workers at a 100,000-ft2 plant.
It is the second expansion in less than a year for Harvey Industries. It purchased an aluminum foundry in Nuevo Laredo, Mexico, from Hayes Lemmerz International in June 2010.
Phelon is a diecaster that designs and manufactures engine electronics, ignition systems, alternator-stators, charging systems, and voltage regulators. Its aluminum diecasting operations produce flywheels, castings, and components used in by lawn and garden equipment suppliers, power generation components, commercial lighting fixtures, appliance parts, and other industrial components.
Harvey Industries said the acquisition expands its geographic reach, expands its product range, and will lead to “various synergistic benefits” for the organization, its customers, and suppliers.
