goetzpartners advised Georg Fischer AG on the divestment of its two iron casting plants in Singen and Mettmann (Germany)
goetzpartners Corporate Finance advised GF Casting Solutions, a division of Georg Fischer AG, on the sale of its two iron casting plants located in Singen and Mettmann (Germany). The plants with a dedicated workforce of 2,000 employees and combined sales of approx. CHF 620 million have been acquired by Fondium B.V. & Co. KG, Mettmann (“Fondium”), effective retroactively as of 1 December 2018.
The acqusition entity Fondium B.V. & Co. KG has been founded by three current managers of GF Casting Solutions, Achim Schneider, Arnd Potthoff and Matthias Blumentrath. The three Executives have together more than 40 years of experience in the industry. The new owners will continue all operating activities at the facilities.
Achim Schneider, co-owner and spokesman of the Fondium Group, states: “With Fondium we create an agile, owner-operated automotive supplier with a clear market focus. We are looking forward to create a successful future together with our 2,000 employees.”
The trend towards lighter vehicles continues to have a substantial impact on the automotive industry. In this context, GF Casting Solutions, a division of GF, will have a stronger focus on light metal casting whilst reducing its presence in iron casting in Europe. As a consequence, the iron casting plants located in Singen and Mettmann (Germany) have been divested. This portfolio reshaping and the resulting regional footprint adaptation are fully in line with GF's 2020 strategy.
Yves Serra, GF CEO, comments: “The reshaping of its portfolio will allow GF Casting Solutions to better leverage opportunities in light vehicle structures and aircraft engine components.”