Takeover of Spanish foundry

The casting group Procast from Gütersloh continues their expansion in Europe. On 10 July, the takeover of the Spanish foundry “Fundiciones Garbi, S.A.” was agreed upon.

The foundry with headquarters in Bilbao in the north of Spain is able to produce up to 20,000 tons of cast material every year. The Procast Group has taken over the company and views this as an ideal addition to their casting business in Europe. According to Florian Feddeck, CEO of the Procast Group, the takeover also comes with a great advantage concerning the supply of energy: “In Spain, we gain independence from the insecurities caused by German energy policy. For us as a large consumer of energy, energy costs and a secure supply are existentially critical elements of our business foundation.”

Private Assets AG, a German investment company and shareholder of “Procast”, has integrated the business operations of Fundiciones Garbi into “Procast”. The new name of the Spanish foundry is “Procast Guss Espana S.L.”.