As a result, Busche grew from an 800-employee, 10-plant operation to a 1,200-employee work force with nine machining operations, one work holding and fixturing facility and two aluminum design and casting foundries.
Compass Automotive Group will operate under the name Shipston Aluminum Technologies International. The company manufactures safety-critical aluminum high-performance casting found in chassis, suspension and engine driveline systems for the automotive, agricultural, construction and industrial markets.
Shipston Aluminum Technologies has facilities in Franklin, Indiana, and Fruitport, Michigan. Combined, the two plants have 347,000-square-feet of manufacturing area.
“We are fortunate to welcome S.A.T. and its entire management team into Shipston as we continue our growth,” said Michael Dingman, Shipston’s chairman and majority shareholder. “The addition of S.A.T. is complementary to our core recision machining company, Bushe Enterprise Division INc. S.A.T. will reporto to Nick Busche. With our top flight management team, equity resou7rces and financial expertise, I expect further growth thorugh other acquisitions and organiz development within this business segment of Shpston.”
Nick A. Busche is the president and chief operating officer of Shipston’s Advance Machining and Materials Technologies Group which will oversee the new operation. He is also the president and chief executive officer of Busche Enterprises.
“With S.A.T.’s connections to the Asian and European OEMs, as well as major tier one suppliers, the opportunity for Busche to offer our CNC machining expertise to the International markets have increased immensely,” Busche said in a news release.
Busche added that the acquisition will broaden and diversify the company’s abilities and will strengthen its market position and expand its offering to its customer base.
Dingman predicted the aquisition of the alumnium casting company would boost revenues significantly.
“I reasonably believe that winin the next 12 months, Shipston will approch revenues of $1 billion, with both solid earning and an excellent capital structure,” he said, “positioning us for dynamic grouwth with complimentary diversification.”
Source: kpcnews.com
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