Dameron establishes new Mexican facility, completes company acquisitions to enhance growth.
DafMex (Dameron Alloy Foundries in Mexico), Mexicali, Mexico, poured its first casting in May, and has continued to produce stainless steel components for the pump and valve markets with plans to expand into other alloys and markets. The 44,000-sq.-ft. investment casting facility houses 35 employees, but all design and machining capabilities remain at the company's facility in Compton.
According to Dave Baron, Dameron's vice president of sales and marketing, the expansion to Mexicali, in Mexico's Maquiladora sector of production facilities along the U.S.-Mexico border, was to contain costs.
Additionally, Dameron recently completed the acquisitions of the assets of two other metalcasting companies.
In July, the company acquired the assets of the Precision MicroCast Inc. (PMI), Ventura, Calif., investment casting facility. In the transaction, Dameron also acquired PMI's vacuum cast and heat treatment capabilities for both ferrous and non-ferrous components. Through this, the company expands its customer base to the aerospace, aircraft pump and valve, medical and defense industries.
Dameron also acquired the assets of Shogun Precision Castings Inc., Compton, Calif., in September. With the assets from this investment casting facility, Dameron gains further expansion of its alloy capabilities as well as its customer base. in addition to the markets served from the PMI transaction, the Shogun acquisition brings Dameron to the power generation and automotive industries.
These two acquisitions of assets are not a first for Dameron. The company acquired Truecast Inc., Louisville, Ky., in 2002, which, like the recent acquisitions, heightened the company's assets and expanded Dameron's ferrous and non-ferrous alloy base.
Overall, Dameron will benefit most from the broadened market it will now serve.
"Along with the key personnel who have joined the organization and their combined level of experience, (these acquisitions) allow Dameron to re-enter the aerospace, aircraft and military markets that we were once heavily involved with a number of years ago," Baron said.
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|Title Annotation:||North America|
|Date:||Oct 1, 2004|
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