GF Casting Solutions is divesting its iron foundry in Herzogenburg (Austria) to MRB FerCon.
The transaction will have a negative one-off effect of CHF10m (US$10m) on the operating result in the second half of 2019.
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In line with the trend toward lighter vehicles, the division has strengthened its position in aluminium and magnesium light metal components. At the same time, the divestment of the Singen and Mettmann (Germany) sites at the end of 2018 initiated the withdrawal from the automotive iron casting business in Europe.
The Herzogenburg foundry is being acquired by MRB FerCon, which was established by two former GF executives, Markus Rosenthal and Ralf Bachus.
With 250 employees, the plant generates sales of around CHF75m. The light-metal foundry at the same location is not affected by the divestment.
GF Casting Solutions is a solution provider for lightweight components in passenger cars, trucks, the aviation and energy segments.
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By GlobalDataThe division develops and produces metal components at locations in Switzerland, Germany, Austria, Romania, China and the US.
