Nizi International, a supplier of pig iron, ferroalloys, and other metallurgical and chemical raw materials to foundries, has an agreement to purchase Chemalloy Co. Inc. from owner and president/CEO Tony Demos. The terms of the acquisition were not announced, but Chemalloy will continue to operate as a wholly owned subsidiary of Nizi.
The buyer explained that Chemalloy will strengthen Nizi’s presence in North America, building on “substantial synergies between the companies within product sourcing and worldwide market coverage.” The transaction is expected to close before the end of the year.
“I am very pleased to see Chemalloy become part of the Nizi Group,” Demos stated. “Looking for a new owner of my company, I have given first priority to the interest of my always-loyal customers and employees. I believe these interests will be well looked after under the Nizi ownership. This is a perfect fit between two highly respected companies with similar values and business philosophies. Nizi’s broader worldwide footprint also will bring sourcing opportunities to bear in the U.S. market for the benefit of all our customers.”
Chemalloy manufactures custom-sized alloys, metals, minerals and chemicals for foundries and other industrial applications, and is an important supplier of metal powders to the North American welding industry.
Nizi is a Luxembourg-based supplier of pig iron, ferroalloys, silicon carbide, recarburizers, briquettes, foundry coke, and nodularizers to foundries in Europe. In 2012, it purchased Miller and Company, a supplier of primary iron products and ferroalloys to ferrous foundries and steelmakers in North America.
“Nizi International represents our long-term industrial commitment towards the metal industry and we have high ambitions for the future development of the Nizi Group,” explained Dag Teigland, CEO of majority stakeholder Holta Invest and chairman of Nizi International. “With a strong financial platform, a highly dedicated organization and a robust business model Nizi is well positioned for growth and further geographical expansion. Chemalloy fits right into this strategy.”
Teigland added that Chemalloy’s welding product line will add a new dimension to the Nizi Group.