Metal Technologies acquires former customer in Mexico
AFS Corporate Member Metal Technologies Inc. (Auburn, Indiana) has acquired AAASE’s Mexico machining operations in San Luis Potosi, Mexico, which will do business as Metal Technologies Maquinados de SLP (MTMS)––the existing management team remains in place going forward.
“MTMS was one of our first and largest customers in Mexico,” said MTI President and CEO Matthew Fetter. “We knew the management team very well for many years and the MTMS team was the critical part of the acquisition. In addition, MTMS’ ability to machine a wide size range of parts with complex operations and tight tolerances was complementary with our existing machining experience.”
MTMS General Manager Americo Cruz added, “The MTMS team is excited to be a part of the MTI family with its strong operational, quality and financially secure reputation in our industry. MTI has a long-term vision for growth in Mexico and the capital available to fund strategic opportunities in the future. In addition, MTI’s strong values and beliefs are an excellent match with our culture at this facility.”
“We believe customers benefit from casting and machining solutions close to their operations,” Fetter continued. “MTI is the only company that can do this in Mexico as well as the USA. MTI recently completed a $100 million investment in SLP of a world class iron foundry to meet our strategic customers’ demand in Mexico. We are excited to gain the world-class technical expertise, experience, and competence of the MTMS team as a critical part of MTI’s long-term strategy. This acquisition—combined with MTI’s casting capability in SLP—uniquely positions MTI to provide a high quality, low cost vertically integrated solution for iron and aluminum machined components in both the U.S. and Mexico. As the foundry and machining business is quickly evolving in North America, MTI has the platform to technically and commercially support our customers with a secure source of supply with a trusted partner.”
Metal Technologies’ 1,300-plus employees serve a wide range of industries with over 300,000 tons annually of cast and machined components. CS