Hitachi Metals to acquire Waupaca Foundry
Aug 19, 2014 | 02:34 PM
| Michael Cowden
CHICAGO Hitachi Metals Ltd. has agreed to acquire Waupaca Foundry Inc., the worlds largest supplier of iron castings, from private equity firm KPS Capital Partners LP for $1.3 billion.
The deal, expected to close in October pending customary closing conditions, would effectively make Hitachi Metals the worlds biggest global supplier of iron castings, the Tokyo-based materials manufacturer said Aug. 19.
"We consider it a tremendous opportunity to acquire (the) overwhelmingly large production capacity, wide business domain and solid customer base of Waupaca, which will fuel the growth of our iron casting business," Hitachi Metals said.....
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