Minnesota’s Waltek Inc. has acquired Columbus, OH-based Funk Finecast Inc., through a subsidiary, according to a Waltek statement. Both companies produce precision investment castings, and the consolidation of the two will result in a larger, more integrated operation in Ramsey, MN.
The purchase brings full-service machining capability to Waltek, and additional production automation, which will reduce customer lead times and improve on-time and in-full deliveries to customers. Waltek estimated adding the new capabilities will create more than 50 new jobs at its Minnesota plant.
The value of the purchase has not been released.
Waltek produces investment castings for medical devices, aerospace, military, energy production, and general industrial applications. President and CEO Dr. Tom Bartoe said the purchase is one of many planned strategic moves that are bringing Waltek closer to its goal of being a full-service investment caster.
Waltek Inc. achieved ISO 9001:2008 certification in June 2009 and expects to complete registration for AS 9100 quality certification soon. That will give the company access to more aerospace and defense markets where the quality standards are required.
“Our efforts in lean manufacturing, continuous improvement, and employee training during the recent recession are paying off in our company’s readiness to meet the challenges that will come with the economic recovery,” Bartoe said. “A bigger and better Waltek is the result of these combined efforts.”