Keywords
Citation
(1999), "Burmah Castrol plc expands investment casting operations with US$33.5 million acquisition of Remet Corporation", Industrial Lubrication and Tribology, Vol. 51 No. 5. https://doi.org/10.1108/ilt.1999.01851eab.002
Publisher
:Emerald Group Publishing Limited
Copyright © 1999, MCB UP Limited
Burmah Castrol plc expands investment casting operations with US$33.5 million acquisition of Remet Corporation
Burmah Castrol plc expands investment casting operations with US$33.5 million acquisition of Remet Corporation
Keywords: Burmah Castrol, Casting
Burmah Castrol plc ("Burmah Castrol"), the international specialised lubricants and chemicals group, announced today the expansion of its investment casting business with the acquisition of Remet Corporation, a major US supplier of investment casting consumables, for US$33.5 million in cash. The acquisition supports Burmah Castrol's strategy of building global businesses that are leaders in specialised, high added-value markets.
Following the acquisition, Remet, which has annual sales of over US$36 million, will be merged with Burmah Castrol's existing investment casting operation, Dussek Campbell Yates, producing a combined turnover approaching US$60 million per annum worldwide. Dussek Campbell Yates is already a world leader in the supply of highly specialised, formulated pattern waxes to the investment casting industry, which serves the aerospace, medical, power generation and other precision casting markets.
The acquisition will enable Burmah Castrol to provide a total system service covering the two key steps in the investment casting process, namely pattern waxes and ceramic shell systems. Remet's principal expertise is in refractory slurry systems, used in the manufacture of ceramic shell systems, a global market valued at some US$200 million with forecast growth in the order of 6-7 percent per annum.
It has an approximate 20 percent share of the slurry systems markets in the USA and a 10 percent share of the European market, as well as supplying the investment casting industry in South America and Asia.
For further information contact: James Alexander. Tel: +44 (0) 1793 452006.