The Milwaukee Journal Sentinel (7/21, Taschler) reports that “things arelooking up” for Modern Equipment Co. of Port Washington, Wisconsin. This week, Modern Equipment “is preparinga 75-ton melting furnace for shipment to an automotive manufacturer.” The company “has called back a numberof employees laid off during the downturn and is looking to hire welders and machinists – just like nearlyeveryone in Wisconsin’s manufacturing sector.”
Dynacast Acquisition Completed
Charlotte, NC – July 19, 2011 – Dynacast International Inc. (Dynacast)announced the completion of the acquisition of the Dynacast business from Melrose PLC. The company’s acquirersare affiliates of Kenner & Company, Inc., a New York-based investment firm, together with Izurium CapitalManagement and a number of other institutional investors.
The completion of this acquisition puts Dynacast in a strong position for growth, backed by significant investor support and ample capital. Dynacast will continue to operate as an independent company led by its existing management team.
“On behalf of the executive team and the 3,000 employees of Dynacast worldwide, we are delighted at the prospect of working with Kenner & Company and the other investors,” said Simon J. Newman, CEO. “We believe that we have significant growth opportunities ahead of us and we are excited and confident that we will execute these opportunities over the next few years.”
Jeffrey L. Kenner, President of Kenner & Company, Inc. said he was pleased to complete the transaction and praised management for their enthusiastic support and business discipline. “We look forward to working together with Dynacast management to accomplish their growth objectives,” said Kenner.
Financing for the transaction was provided by JP Morgan, Macquarie Capital, GE Capital, and Bank of Montreal.
About Dynacast
Dynacast is a global manufacturer of small engineered die cast components. We serve customers in automotive safety and electronics, consumer electronics, healthcare, hardware, computers and peripherals and many other industries. Our extensive engineering expertise and use of specialized manufacturing technologies enable us to design and manufacture customized, small, high precision components with complex geometries in a cost effective manner. With Global Headquarters in Charlotte, NC, Dynacast operates 20 manufacturing facilities in 16 countries around the world. Please visit www.dynacast.com to learn more.
Contact:
For Dynacast – Suzi McNicholas, 704-927-2785 or smcnicholas@dynacast.com
Harley-Davidson Sees Resurgence In Domestic Sales
The AP (7/20) reports that Harley-Davidson saw domestic sales rise for the firsttime in five years, which “more than doubled” the company’s second-quarter profit. The higher demand has eaten into”what were already low dealer inventories,” spurring Harley-Davidson to increase production levels slightly. CEO KeithWandell said keeping production in line with demand would be a priority for the company. “But more importantly,” headded, “as we get through our manufacturing transformation, one of the important things to note is that we’ll then havethe flexibility to be able to flex up and down much more quickly as these demand patterns and or seasonal patterns occur.”
NADCA’s 2011 Die Casting Shipment Report Provides Insight on Current and Future Shipping Data
NADCA’s 2011 Die Casting Shipment Report is now available. This report detailsthe shipments, by alloy, of die castings in 2007 through 2010.It also includes a custom versus captive breakdown,and industry sales estimates. The report includes projections for shipments in 2011 and a forecast for 2012.
NADCA conducted its annual shipment survey of die casting operations in the United States and Canada in March, 2011. This survey is the fourth annual comprehensive attempt to gain industry trend data from as many die casting operations as possible.Over 150 aluminum die casters provided their data for 2010.Over 75 zinc die casters sent in their data and ten magnesium die casters provided shipment levels for 2010.The data was reviewed for consistency and calculations were made on the total shipment data for each type of metal (aluminum, zinc and magnesium.The report indicates that in 2010 there was a:
- 40% shipment increase of aluminum die castings
- 34% shipment increase of zinc die castings
- Slight drop in shipments of magnesium die castings
This report assists in providing the most current insight on the North American die casting industry while also enabling companies to forecast future shipments in specific markets and overall.The 2011 Die Casting Shipment Report is now available for the modest price of: $30 for Corporate Members, $45 for Individual Members and $60 for Non Members. Visit: http://www.diecasting.org/publications publication # 880-2 to download your copy today!