Omega acquires Richards to consolidate market position
Omega Foundry Machinery Ltd has acquired the business and assets of Richards Engineering Inc, a subsidiary of Vulcan Engineering Co. The new company will trade as Richards Engineering Ltd.
Richards is a market leader in thermal reclamation systems. The company also manufactures sand driers, Chromite separation and shell sand coating plants along with its own range of mixers, mechanical reclamation plants, core shooters, etc.
The agreement will transfer the ownership and manufacturing of Richards’s products to Omega with Vulcan retaining access to the Richards product lines through an OEM agreement. All existing Vulcan Engineering reclamation equipment customers will continue to receive fully backed parts and service support and Omega will honour any existing agreements that are currently in place such as agencies, manufacturing licences, etc.
Based in Leicester in the UK, Richards current product line also includes robotic fettling and grinders, which will stay with Vulcan for the short-term and will operate out of the existing premises in Leicester. As part of the assets Omega has also acquired the intellectual property and manufacturing rights for the 'Fordath' range of equipment. Mark Fenyes, chairman Omega Foundry Machinery Ltd, told Foundry Trade Journal: ‘It is my intention to resurrect certain product ranges that fall under this banner as I believe it will be a benefit to us in certain markets.’ ‘The management and employees of Richards will remain with the company and operate out of the existing premises. I am in particular pleased to announce that Ian Bailey who has been instrumental in developing their product range will also be retained as operations manager.’
The positive move looks set to consolidate Omega's position in the market place both from an equipment standpoint and geographical sales. The sale of Richards is also in line with Vulcan’s strategic plan to focus globally on the core business of general foundry projects along with specific equipment lines focused on casting handling, metal finishing, robotics, automation and lost foam.