Metal Technologies acquires Key 3 Castings

AFS Corporate Member Metal Technologies Inc. (MTI) of Auburn, Indiana, has acquired Key 3 Casting LLC, which owns and operates two aluminum die and squeeze casting facilities as well as a ductile iron foundry. 

The facilities involved in the sale include Jackson Die Casting LLC in Jackson, Tennessee; Minneapolis Die Casting LLC in Minneapolis; and Northern Foundry in Hibbing, Minnesota. The combined operations have approximately $74 million in annual sales and 300 employees. 

“The Key 3 acquisition is an integral part of MTI’s strategic plan to grow our metal casting capabilities to serve our customers’ long-term needs,” said MTI President Matthew Fetter. “The Key 3 acquisition gives us die casting, squeeze casting, value add services and small ductile iron casting capability. In addition, the location in Jackson, Tennessee provides us with a platform to meet the growth of manufacturing in the South. 

“We definitely see a long-term trend in the marketplace to reduce casting weight by engineering smaller, lighter iron components or by utilizing lighter materials such as aluminum,” he added. “The Key 3 acquisition not only provides MTI with a world class manufacturing footprint for meeting market demand but provides us with an excellent technical and management team to execute our strategic plan. We are excited about the opportunities of welcoming the Key 3 team members into the MTI family. 

“Northern Foundry is a natural addition to our already strong position in iron castings with a special niche in small, lightweight ductile iron castings.”