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GF Automotive To Expand in Asia, Divest Aluminum Sand Casting in Europe

Issued at 2012-12-24



GF Automotive, a corporate group of Georg Fischer, Schaffhausen, Switzerland, will expand its existing plants in China and focus in Europe on its iron and aluminum diecasting facilities. Its aluminum sand casting business, with two facilities in Friedrichshafen and Garching, Germany, will be divested.

Georg Fischer expects continued growth in the Asian automotive market and an overall subdued situation in Europe. Consequently, the expansion of GF Automotive in China will continue at a substantial pace. In the last six years, sales in that country went from zero to 10% of the total turnover of the corporate group. The strong local demand will require an increase in the production capacity of the two existing iron and aluminum diecasting facilities of approximately 40% within the next two years.

In Europe, the GF Automotive corporate group has decided to concentrate on iron and aluminum diecasting, and it will reduce its production footprint in Europe. The two corresponding plants in Germany will be divested through a share deal to MWS Industrieholding GmbH, an aluminum casting and CNC machining specialist headquartered in Schwoich, Germany. The two facilities employ a total of 430 people, producing aluminum sand casting for passenger cars, commercial vehicles and industrial applications.

“With this acquisition, we will become the technological leader as well as the largest supplier in aluminum sand casting in Europe. The existing management will stay in place to guarantee the continuity of the business,” said MWS co-owner Dr. Christoph Senft.


Source: AFS



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