Dynacast has added another specialty diecasting operation to its organization with the purchase of FisherCast Global Corp., for an unreported price. FisherCast Global, Peterborough, ON, manufactures high-precision zinc and magnesium components and injected-metal component assemblies.
The company’s FisherTech division develops joining and assembly product using a proprietary Injected Metal Assembly technology, which is also used to produce terminal fittings for of wire and cable.
FisherCast Global recently sought creditor protection under Canada’s Companies’ Creditors Arrangement Act, because of what Dynacast calls “strained financial resources.” A Canadian bankruptcy court is expected to approve the sale soon.
FisherCast also maintains a separate plant in Wales, which will have to be acquired through a separate transaction that Dynacast is considering.
“We were looking for a strong financial partner to secure the future of FisherCast and we’ve found it,” stated president Bob Espey. “Dynacast has the financial stability and operational experience to secure our success well into the future.”
Charlotte-based Dynacast produces aluminum, magnesium, and zinc precision diecastings at plants in Lake Forest, CA, and Elgin, IL, as well as at plants in Canada, Mexico, and 12 other operations in Europe and Asia.
“The partnership comes at a perfect time for both companies,” according Dynacast CEO Simon Newman. “Dynacast will continue to broaden its North American capacity to serve the zinc and magnesium diecasting market, and to offer additional joining and assembly services through Injected Metal Assembly technologies.”
It said that the FisherCast organization will be “a natural extension of its core business,” and will diversify its international customer base and supports its growth strategy. FisherCast will be able to offer its customers a wider range of products and support services thanks to Dynacast’s 18 international facilities. Also, it will be able to add aluminum diecastings and more zinc products to its product selection.
“By combining the expertise and resources of both companies, we will create expanded choices in materials, equipment and technologies for all customers,” said Newman.
FisherCast will operate as a separate Dynacast business unit, continuing to offer the full range of its products and services. Dynacast said that keeping the Peterborough plant in operation will be the top priority for both companies during the ownership transition.