|
|
 ANNOUNCEMENTS
|
|
04/01/02 |
Dameron
aquires Truecast foundry of Louisville, KY. |
|
|
FROM:
|
Dameron
Newsletter - Spring 2002 |
|
|
|
On
March 28, 2002, Dameron Alloy Foundries, Inc. acquired
Truecast, Inc., located in the same industrial park complex
as the company’s current DAFCO operation in Louisville,
Kentucky. In addition to pouring various stainless steel
alloys, Truecast pours a variety of aluminum and bronze
alloys.
Truecast began producing castings in 1958 under the name
"The Pointer Tool Company" in Louisville. After
a fire on November 7, 1995 (Election Day) completely destroyed
the facility, the company rebuilt in the spring of 1996
at its current location in the Riverport Industrial Park
and poured its first castings in July 1996. They have
been producing stainless steel, aluminum and selected
other nonferrous alloy investment castings ever since.
Truecast’s size offers a welcomed addition to the
recently expanded DAFCO operation with a now combined
manufacturing space of 40,000 sq ft. Capacities can now
be maximized and room is available for future expansion
of the DAFCO operation.
This acquisition serves as an asset builder for Dameron.
One of those assets is the casting markets served by Truecast:
handgun components, food processing equipment, tool and
die, oil field, computers, after market automotive, fasteners,
and many other domestic markets. While some of these markets
are already served by the DAMERON operation, others bring
new opportunities for the company. These markets, and
the ability to provide non-ferrous alloys, offer a new
customer base for Dameron that will be expanded over the
coming months and years.
The Truecast acquisition allows for the utilization of
their tool construction and "finished machining"
capabilities in addition to the excellent foundry equipment
in place. Combined, these two assets enhance Dameron’s
ability to continue to build it’s own tooling and
to provide customers with value added machining.
One of the most important assets that comes via this acquisition,
are the people who make up the Truecast operation. From
the front office to the shipping dock and the independent
sales agents, all have played an important part in making
Truecast a recognizable name in the foundry industry.
These dedicated employees are, in many ways, the most
important asset for the company, its customers and for
the future growth expectations. This valuable resource
provides the very backbone of the operation. Without them,
there is only brick and mortar.
Dameron is excited about this acquisition. As so eloquently
stated by John Dameron, President/CEO, "This provides
us with the ability to combine the resources and the expertise
of both companies together. The sum of the effort is far
greater than any of its parts". Well stated.
The Truecast acquisition marks the second such expansion
of the total Dameron expansion effort in the past several
months. In late 2001, the company entered into a joint
venture agreement with an investment casting foundry in
China. The results of this venture have been outstanding
and have allowed Dameron to provide high volume, quality
castings at very competitive prices to selected markets
served.
The combined operating force of Dameron, Dafco, Truecast
and the company’s China operation provides a uniquely
structured organization that stands ready to meet its
customers needs, whether those needs are for a casting
or machined parts in any volume or size configuration.
. |
|
| |
|
|
|
| |
|
DOWNLOAD NEWSLETTER
(PDF) - SPRING 2002 |
|
|
|
