Automotive parts manufacturer Cosma International, Brampton, Ontario, Canada, has acquired aluminum permanent mold caster Grenville Castings Ltd., Smiths Falls, Ontario, Canada.
Grenville Castings is a supplier of structural castings to the automotive, heavy truck and recreational markets. According to a press release issued by Cosma, the company was purchased for its focus on niche production and development of complex castings, including thin wall and hollow parts produced in the low pressure permanent mold process. The financial details of the acquisition were not disclosed.
A supplier of parts manufactured through various metal forming processes, Cosma is a wholly owned operating unit of Magna International Inc., Aurora, Ontario, Canada. The company believes the acquisition will help it become a leading global manufacturer of aluminum structural castings in all major geographic markets and support its launch of an automotive chassis program scheduled to start production in 2014.
"This acquisition further enables Cosma to support our customers with lightweight solutions through the latest technologies and proven manufacturing excellence,” said Horst Prelog, Cosma president. “Grenville's expertise in the area of structural castings enhances our already diverse range of metal forming solutions.”
Cosma has 47 manufacturing facilities and 25 product development and engineering centers worldwide. Magna employs approximately 104,000 in 269 manufacturing operations and 84 product development, engineering and sales centers in 26 countries.
Sourced from metalcastingdesign.com