Fomas Group has acquired U.S. forger and rolled-ring producer Ajax Rolled Ring & Machine LLC for an undisclosed price. The buyer, headquartered in Italy and manufacturing at plants in Europe, China, and India, noted the acquisition strengthens its own position in the seamless rolled rings market, “as Ajax’s capabilities are highly complementary to those of FOMAS Group, with limited product overlap.”
No details were announced for the future management structure for York, SC-based Ajax Rolled Ring & Machine.
Ajax Rolled Ring produces seamless rings for critical components, including bearing races, gears, flanges, and valve-seat rings. End-markets include bearings manufacturers, industrial steam and gas turbines, wind energy, mining and construction equipment, oil and gas, aerospace, petrochemical, defense, rail transportation, and general industrial applications.
Fomas produces forgings and seamless rings in steel and nonferrous alloys for power generation, nuclear power, oil and gas, gears, transmission s, bearings, construction equipment, and general industrial markets.
The buyer noted that has sought to expand its seamless ring-rolling business through organic growth and by buying companies with similar capabilities. It added that Ajax would give Fomas a strong presence in the U.S. market, and that sharing the respective brands and “business relationships” would increase sales opportunities.
“The acquisition of Ajax is another important step in our journey to excel in the forging industry,” explained Jacopo Guzzoni, vice president and CEO of Fomas Group. “This transaction will strengthen our presence in the United States, where our customers will regard a local production site very positively.
“It will toughen our global presence,” Guzzoni continued, “reinforcing the fact we are not a local company limited to a specific area, nor part of an oversized Group. We can be considered as a mid-sized multinational between smaller and larger firms, with the ability to network both locally and internationally.”