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Global Mining Components Group Formed

Feb. 18, 2010
Norcast acquires Swanmet, will produce castings in Canada, Malaysia, Singapore

A new company has been established to supply specialty castings to mining operations worldwide. Toronto-based Norcast Wear Solutions combines Norcast Castings Co. — one of the world’s largest suppliers of mill liners, crushers, and wear components — with the assets of Swanmet Engineering Pty., a producer of castings for crushing and ground-engagement tools. Swanmet’s manufacturing operations are in Malaysia and Singapore.

The value of the acquisition has not been announced.

Norcast Castings has been supplying cast products to the mining industry for over 100 years and is one of the world’s largest providers of mill liners. It produces chrome-moly steel, high-chrome white irons, and nickel alloys, as well as custom-alloy products.

Swanmet, founded in 1975, produces specialty cast iron and nonferrous products to the mining, aggregates, maritime, and oil-and-gas industries in Southeast Asia, Australia, North America, and Europe.

Jan Castro, chairman of Norcast Wear Solutions, commented: “The combination of Norcast Castings and Swanmet brings together two strong companies and sets the stage for the expanded cross-manufacturing and marketing of both companies’ products. We value the established Norcast and Swanmet brands and believe that the combined product offerings of both brands will allow Norcast Wear Solutions to capitalize on greater opportunities globally, particularly in Asia, Australia, Latin America and Africa.”

Richard LaBelle, the new CEO of Norcast Wear Solutions, has executive experience in the mining sector with other divisions of Pala Investments Holdings Ltd., including most recently as chief operations officer of Dumas Contracting Ltd., Canada’s largest underground hard-rock mining contractor.

Pala is described as a $1.0 billion multi-strategy investment company focused on mining and natural resource companies in developed and emerging markets.

Norcast Wear Solutions also named Allan Bulckaert was named president of Norcast Wear Solutions He will continue as chief executive officer of Norcast Castings.

The founders of Swanmet, K.L. Lim, K.G. Lim, and K.S. Lim, will remain in their respective roles with the Swanmet assets, and will join the board of Norcast Wear Solutions as directors.