Two British Diecasters Set to Merge

J.V. Murcott, Metal Castings will form largest diecasting business in the U.K.

August 14, 2006 -- According to reports, two of Great Britain's leading aluminum diecasting business will be merged. J.V. Murcott & Sons Ltd. and Metal Castings Ltd. are to be merged to form the largest high-pressure diecasting organization in the U.K. market.

To be known as JVM Castings Ltd, the merged business will have two operating divisions -- JVM Castings (Tamworth) Ltd. and JVM Castings (Worcester) Ltd.

The merger is being arranged by Marathon Asset Management, the New York-based private equity group that acquired Metal Castings Ltd. last spring.

The new company will operate more than 50 diecasting machines with capacities from 80 to 2,700 metric tons, with capability to manufacture aluminum diecastings weighing from a few grams to 40 kg, in batch and mass production volumes. Customers are concentrated in the European automotive and appliance markets.

Rob Murcott, a joint managing director of the merged company, stated: "JVM and Metal Castings have had an excellent working relationship since the late 1980s, when the companies collaborated on the design, development and supply of the ‘K’ bearing ladder for MG Rover. With the backing of Marathon Asset Management, the merger represents a wonderful opportunity to act as a consolidator in what remains a fragmented industry. The size and financial strength of the new entity will provide stability and certainty to our core customer base."

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