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Two companies announce major deals

The Georg Fischer industrial corporation and the cement producer, Holderbank, have announced separate deals aimed at strengthening their market positions.

This content was published on January 5, 2000 - 14:50

The Georg Fischer industrial corporation and the cement producer, Holderbank, have announced separate deals aimed at strengthening their market positions.

Fischer of Schaffhausen said it had won an order worth SFr30 million from DaimlerChrysler US to supply automobile engine connecting rods. The nodular cast iron components will be manufactured on largely automated production lines and shipped to the US for finish-machining at the DaimlerChrysler engine plant in Kenosha, Wisconsin.

Connecting rods (between crankshaft and pistons) are a critical engine component and subject to high dynamic loading. The order is to be carried out at the Georg Fischer Mettmann plant in Germany.

In its communiqué, the company said, "The decision of DaimlerChrysler to have critical cast components manufactured by George Fischer in Europe, despite additional shipping outlay, pays tribute to the technical leadership and competitive standing of the Automotive Products Group."

Meanwhile, Holderbank has acquired 98.5 per cent of the share capital of the Romanian cement producer Cimus SA, strengthening its position as a global leader in the sector.

Holderbank said Cimus operates a state-of-the-art cement plant with an annual capacity of some 1.7 million tonnes. It boasts generous reserves of raw materials and is strategically well-positioned, with a link to the rail network and convenient road access to the country's principal market, Bucharest.

The take-over, subject to approval from the relevant authorities, is a further step in Holderbank's expansion in the country.

Holderbank has held a majority stake in Cimus SA in Romania since 1997.

No price for the new acquisition has been made public.

From staff and wire reports




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