British business Texmo Precision Castings (UK) Limited plans to acquire a majority stake in German precision castings company Feinguss Blank in Riedlingen. The strategic goal is to achieve global market leadership in precision castings.
The future company will operate under the name of Texmo Blank. This creates a unique combination, with the new business able to position itself as the leading precision castings specialist with plants in the United States, Europe and Asia. In addition, the company will be able to offer its global expertise in this field. The Blank family will continue to hold a minority stake in the company going forward. Blank Holding, which supplies the premises in the southwestern German town of Riedlingen, will also remain family-owned. Alexander Lenert, CEO of Blank, will stay on in a senior position at the company. The closing of the transaction is still subject to the necessary regulatory approvals.
Alexander Lenert explained in an interview on schwaebische.de that the planned investments in energy efficiency and energy recovery are the main driving force behind the two companies’ merger. “Using outside capital, we can find points of synergy in this area. We are talking about €15 to 20 million at the Riedlingen site alone. The foundry is 40 years old, and we want to set up a new technology centre in Riedlingen as well.” According to Lenert, joining forces has already proven a success: “We have been working with Texmo on various projects for a year now. During that period, the idea arose to merge the two businesses. We take big decisions together with the two owner families. We are working towards becoming the world market leaders in the precision castings segment.”
The Texmo Blank Group will employ over 1,750 skilled staff and utilise production facilities spanning 100,000 square metres across three continents. According to Lenert, around 500 jobs are set to remain in Riedlingen. Once brought under the same umbrella, the specialist areas across the group companies will make it possible to serve an extended customer segment in the automotive, industrial solutions, medical technology, aviation and aerospace fields.