Metal Technologies acquires Sachs Giesserei.Metal Technologies Inc. (MTI MTI Ministry of Trade and Industry (Singapore) MTI Metal Treating Institute MTI Moving Target Indicator (radar) MTI Magyar Távirati Iroda (news agency in Budapest, Hungary) ), Auburn, Ind., announced that its affiliate, Metal Technologies Holding LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , completed the acquisition of Sachs Giesserei GmbH (SGG SGG Synthetic Greenhouse Gas SGG Superconducting Gravity Gradiometer SGG Sialosyl Galactosyl Globoside SGG Snow Gum Group (Australian project management consultant) ), Kitzingen, Germany from ZF Sachs Sachs is a German manufacturer of motorcycles, mopeds, motorized bicycles and ATVs. On August 1, 1895 the Schweinfurter Präzisions-Kugellagerwerke Fichtel & Sachs oHG was founded in Schweinfurt by inventors Ernst Sachs and Karl Fichtel. AG, Schweinfurt, Germany. MTI, which finalized the transaction July 1, originally had acquired 25% of the German firm in 2004. The company, which produces aluminum and iron castings, will be renamed Metal Technologies Sachs Giesserei GmbH. "This transaction was completed 18 months ahead of schedule and allows the Metal Technologies Group to continue its expansion into a global metalcasting source for our customers," said Rick James, MTI chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . James noted the early purchase was a result of an active European auto parts market and improved company performance. ZF Sachs also entered into a long-term supply agreement with MTI for a portion of SGG's capacity and opportunities at other MTI facilities. Existing SGG management will remain in place. James continued, "MTI is focused on our customers. SGG will allow us to serve our customers' European needs and will serve as a springboard for future growth in the east and west Europe markets." |
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