Texmo Precision Castings has acquired 75.1 % stake in Feinguss Blank, a German company with plants in Germany and Romania, for an undisclosed amount.
Part of the Coimbatore-based Texmo Group, Texmo Precision Castings has manufacturing facilities in the U.S. and India.
Arjunan Ramachandran, Managing Director of Texmo Precision Castings, told The Hindu, “Following the acquisition, the company will trade as Texmo Blank.” It will cater to customers in sectors such as industries and healthcare. Texmo Blank will register $120 million revenue this financial year and will employ over 1,700 employees across its facilities in the US, Europe, and Asia. “This (acquisition) brings growth opportunities. We can provide global services to OEMs and will be in top three (globally) now in terms of sales revenue,” he added.
The family-held company will make steel, stainless steel, cobalt, nickel alloy and aluminium investment castings and the annual production will be almost 8,000 tonnes.