CITATION CORPORATION
27275 Haggerty Road
Suite 420
Novi, MI 48377
(248) 522-4500
January 26, 2009
Citation Corporation Expands Lost Foam Casting Capabilities with Acquisition of Foseco-Morval
Novi, Mich., January 26, 2009 - Citation Corporation today announced it has completed the acquisition of Foseco-Morval, the Lost Foam casting division of Foseco, with operations in Bessemer, Ala. Foseco, a Division of the Vesuvuis group, is a leading worldwide supplier of metallurgical chemicals to the foundry industry.
The acquisition further expands Citation’s position as the world’s largest manufacturer of iron lost foam castings for chassis, powertrain and suspension components for the transportation and industrial markets. The lost foam process reduces cost, weight and complexity.
Foseco-Morval’s lost foam pattern-molding expertise will be integrated with Citation’s lost foam capabilities at its Columbiana, Ala., facility, and will operate as a division called Citation Lost Foam Patterns, LLC. More than 30 hourly and salaried Foseco-Morval employees will remain at the Bessemer facility, as it continues to operate as a satellite location.
“The acquisition of Foseco-Morval strengthens our position as the technology and market leader for lost foam castings and will help create new business opportunities,” said Citation’s CEO Doug Grimm. “We welcome the Foseco-Morval team to the Citation family.”
The Lost Foam casting process, which provides up to a 25 percent cost savings and a 10 to 30 percent typical weight reduction, combines foam patterns into one assembly to create near-net casting components. During the process, the molten metal volatizes the foam pattern to form the desired part. Lost Foam is used to create parts that traditional casting processes have difficulty replicating due to part complexity.
Citation is a privately held corporation headquartered in Novi, Michigan. Citation employs 2,300 employees in Alabama, Texas, Indiana, Michigan, North Carolina and Wisconsin. The company designs, develops and manufactures high-quality cast, machined and assembled components for the transportation and industrial markets.
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For more information, contact: Jennifer Lee, The Millerschin Group at 248-276-1970
jlee@millerschingroup.com