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USA - Diecaster Dynacast Changes Hands.
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Dynacast, Charlotte, N.C., has been sold by holding company Melrose PLC, London, to a newly incorporated company, KDI Holdings Inc., managed by private investment firm Kenner & Company Inc., New York.
The deal, which is expected to close in August 2011, comes 18 months after the global diecasting firm closed its Montreal, Candada, plant. According to a Melrose executive, Dynacast has performed well in the six years it has been in its portfolio.
“As a result of the improvement in its performance, we have quadrupled the shareholders’ investment in Dynacast within six years,” said Melrose Chairman Christopher Miller.
According to a press release issued by the holding company, Dynacast’s management team will be retained, and business is expected to continue as usual un the Kenner & Company umbrella.
Dynacast provides zinc, aluminum and magnesium diecast components to the healthcare, consumer electronics, computers and peripherals, and automotive industries, among others. The company has manufacturing operations and engineering support in 20 locations globally, including North America, Europe and Asia.
Source: Modern Casting
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