GF Automotive, a division of GF, is to purchase 100% of Precicast Industrial Holding SA, the swiss-based precision casting specialist. This is in line with the division’s strategy to increase its industrial sectors presence, in particular in the promising aerospace field. Upon closing, the division will be renamed GF Casting Solutions.
Precicast Industrial SA (Precicast) is one of the only independent precision casting, also called investment casting, companies in Europe, specializing on super alloy components for aero engines and industrial gas turbines. In addition, the company started to produce components out of additive manufacturing (3D printing) through Precicast Additive SA.
The company, established as Precicast SA in 1970 in Novazzano, Ticino (Switzerland), generated in 2017 a turnover of approx. CHF 120 million with a workforce of 730 employees in Switzerland and in Romania. Both parties agreed to keep the transaction price confidential.
In order to better reflect its evolving portfolio, GF Automotive, after closing scheduled for the first quarter of 2018, it will be renamed GF Casting Solutions. The closing is subject to regulatory approval.
GF is already present in the aerospace and industrial sectors of gas turbines through the division GF Machining Solutions that will also support Precicast for the development of its precision machining activities.
Yves Serra, CEO of GF, said: “The acquisition of Precicast is fully in line with the division’s strategy to increase its presence in promising industries such as aerospace. Let’s give a warm welcome to Precicast in GF family and we look forward to supporting its growth. Both companies complement not only very good, but share similar values and cultures.»
Paola Invernizzi, President of Precicast, says: “The decision to go ahead with GF was motivated by the desire to provide opportunities for further development for the company. Precicast, founded over 48 years ago, has always been in the forefront ‘technological innovation in the investment casting industry, earning an unquestioned reputation with major blue chip clients, while maintaining a strong financial performance.»
