GF to Acquire High Pressure Die Casting Specialist in Romania
GF Automotive announces the acquisition of Eucasting Ro SRL, a high pressure aluminum die casting specialist with two productions sites in Romania. The acquisition follows GF Automotive’s strategy to expand its presence in the growing light metal components business.
With a workforce of approx. 500 employees, Eucasting generates a turnover of about CHF 50 million. Sixty percent of the sales are achieved in the automotive segment followed by lighting solutions and further industrial applications. Closing is anticipated for November 2017. The parties have agreed not to disclose any financial details.
Yves Serra, CEO GF, states: “We are pleased to welcome Eucasting in the GF family. Both its customer base and its locations complement very well GF Automotive’s and we look forward to support its fast development.”
Federica Mapelli, owner of Eucasting Ro SLR, says: “We are excited to become a part of GF Automotive and to plan together the next steps in our development. The strong know-how und the lightweight competences of GF Automotive will increase our options to better serve our existing and new customers.”
Source: Georg Fischer AG