Cerion LLC Purchases Assets of Intermet, Revstone
Released on July 23, 2008
According to its public relations representative, Cerion LLC, Plymouth, Mich., and parent company Revstone Industries, Paris, Ky., on June 24 won an auction for the business assets of Intermet Corp., Fort Worth, Texas, shortly after it had purchased diecasters Contech LLC, Portage, Mich., and Burlington Technologies, Burlington, Ontario, Canada.
According to the rep, Intermet, which was working through bankruptcy reorganization, was to be added to the holding company’s growing stable of diecasters by the end of July, when a court was expected to approve the purchase.
Cerion also confirmed the purchase of Contech, a diecaster that declared bankruptcy in January, and Burlington, another automotive diecaster, on June 22. Terms of neither transaction were disclosed.
“Cerion is building a manufacturing-oriented business focused on providing customers in a variety of industries with world-class products and services,” said Dave Doster, chief executive officer of Cerion.
According to press releases issued by Cerion, both Contech and Burlington will continue to serve the global automotive market with aluminum diecast components. In addition to the metalcasters, Cerion recently purchased the assets of a value-added finishing technology company and a provider of precision stampings for the automotive, trucking, industrial and consumer markets.
The Cerion representative declined to offer more information on the Intermet acquisition at this time.
Source: http://www.moderncasting.com/content/view/782/101/
Tags: American Business
