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- Diecasting |
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Intermet Advocates PCPC(3/06/01)
GMTI Combines to
Move Upmarket
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Intermet
to SAE:
PCPC for Al A.O.K. -- Intermet
Corporation (Troy, MI) presented a paper at the 2001 International
Congress of the Society of Automotive Engineers (SAE) demonstrating
that "pressure-counter-pressure casting (PCPC) can be utilitzed
to manufacture robust, premium-quality aluminum steering knuckles.
The company says automakers usually do not consider aluminum
for suspension components, where parts like steering knuckles
and control arms are usually manufactured in ductile iron, because
of concerns about the safety implications of potential failure.
(More at www.intermet.com.)
(3/06/01) |
| GMTI
Combines to Move Upmarket -- Aluminum
diecaster Global Metal Technologies (GMTI) (Chicago, IL), one
of the five largest automotive suppliers utilizing die cast
components in North America, has been acquired by an investor
group and merged with a supplier of engine and drive train components
and specialty fasteners (MascoTech Inc., Detroit, MI) and a
supplier of noise reduction, engine, and wheel-end/suspension
products (Simpson Industries) to form a new company: METALDYNE.
The goal of the merged company is to be "the leading global
designer and supplier of high-quality, low cost metal-formed
components, assemblies and modules for the transportation industry."
The investor group, Heartland Industrial Partners LP, is a private
equity firm that was established to "buy, build, and grow undervalued
industrial companies in sectors ripe for consolidation and long-term
growth." (On an interesting note, Heartland was founded by President
Reagan's famous budget director, David Stockman.) Former GMTI
CEO Joe Ponteri will continue on as Group President, Light Metal
Castings, at the merged company. (More information at www.metaldyne.com)
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