A U.K.-based investment casting group, Texmo Precision Castings, is acquiring a majority stake in a German foundry, Feinguss Blank, a purchase that will give Texmo production capacity in the U.S., Europe, and India. Following the combination, the organization will be rebranded as Tecmo Blank.
The cost of the private transaction was not announced. According to an announcement, the combined organization will have a workforce of more than 1,750, and 1 million square feet of manufacturing space worldwide.
Texmo’s current operations are the Texmo Precision Castings foundries in Warsaw, IN, and Coimbatore, India. It produces investment castings in carbon, alloy, and stainless steels for medical, petrochemical, commercial, and industrial applications.
Feinguss Blank produces investment castings in Riedlingen, Germany, and Timişoara, Romania. It will contribute new capabilities in vacuum casting, turbo-charging technology, mechanical engineering, and assembly to the group, according to the buyer.
Arjunan Ramachandran, managing director of Texmo Precision Castings, stated: “The opportunity to join forces with a firm as respected as Feinguss Blank is an exciting one for everybody involved, and innovation will lead the way as we grow together.”