|
|
:
PULASKI, Va., Aug. 18 Ī Xaloy has acquired New Castle Industries, based in New Castle, Pa. for $17.0 million.
Xaloy is a global leader in plastic machinery components, including barrels, screws and nozzles,
and in processing systems. New Castle makes screws, barrels and heat-transfer rolls, primarily for
customers in North America. Total sales for New Castle were $24.6 million in 2002.
Walter G. Cox, CEO of the Xaloy Group, said: ¸The acquisition strengthens our business in three
important ways. New Castle¨s substantial business and expertise in extruder screws fits extremely
well with our strength in injection molding screws. Second, this acquisition gives us a high-level
entree into the roll business with New Castle¨s three well-respected brands Ī F.R. Gross, Keystone
and Tanner. High-performance rolls perfectly complement our offering to plastics industry customers.
Finally, the acquisition opens the way for reducing excess production capacity for machine components
in North America.”
Newbury, Piret acted as the exclusive financial advisor to Xaloy's parent company, Saurer AG,
in the acquisition of New Castle Industries.
***
Back to Press Releases
|
