- Email: [email protected]
GKN offers US$570 million for Sinter Metals
GUN offers
USQ570
million
for Sinter Metals ENGINEERING giant GKN plc has bid US$570 million for the world’s largest powder metallurgy (PM) parts maker Sinter Metals, based in Cleveland, Ohio, USA. Combined with GKN’s existing resources, the new PM firm would boast annual sales of around $530 million. GKN, which has its headquarters in the UK, has offered $37/share for the outstanding stock in Sinter Metals, an offer that has the approval of the management of both companies. The tender is due to close on 30 May, 1997, with the deal also subject to the normal regulatory approvals. If the transaction is completed, GKN’s expanded PM division will boast 22 plants in six countries, with affiliated companies in two more. GKN’s Powder Metallurgy Division currently operates two plants in both the UK and Italy, as well as having affiliates in Mexico and India. The Division posted sales last year of around $105 million. Sinter Metals has 18 production facilities in the USA, UK Germany and Sweden. The company’s sales in 1996 totalled $112 million, although if
a full year’s contribution is allowed for a number of significant acquisitions in the last two months that figure rises dramatically to $373 million. GKN chief executive, C.K Chow, and Sinter Metals chairman and chief executive officer, Joseph Carreras, both believe the merger will allow the enlarged business to achieve significant further growth through the introduction of new products, geographical expansion and further acquisitions. They say it will also provide opportunities for synergies through sharing technology, the improved utilization of production capacity and expanding capacity. GKN has operations in more than 30 countries with its total sales exceeding $4.9 billion from automotive, agritechnical, aerospace and defence products, as well as industrial services. The company operates four major research and development centres around the world which last year saw an investment of close to $100 million. GMV plc; tel: + 44-l 71. 930-2425; fax: + 44-l 71.
Powder ptices in this issue are for 1 May 1997, u&m othetise stated, and are quoted in the UK at E per kg {tonne lots), and in the USA at $ per Ib
(FOB toa lots).
USA IWW Alumiaium (100 mesh) Brass (80:20) Bronzzd (90: i0) Chromium (60 mesh)
Cobalt (100-400 mesh) Cobalt (qxtra fine)
2.70 2.52 2.70
4.90 40.00 60.00
1.51-1.66 1.81-1.91 3.66
1.16 0.96 0.84 1.02
8393638.
Tile for ferrite sintering A SANDWICH tile developed specifically for sintering applications in the soft ferrite industry has been developed by Vulcan Refractories Ltd of Stoke-on-Trent, UK The company says the ‘S64/65’ tile can withstand high temperatures and linear abrasion, as well as providing high purity surfaces. The tiles are composed of a core
layer of silicon carbide sandwiched between two layers of alumina. Vulcan says the tiles can withstand furnace temperatures up to 15OO”C,with typical continuous operating temperatures recommended at between 1300.1400°C. Vulcan Refractories; tel: + 44-1538-752238; fm: + 44-1538-753349.
* &asedon an exchange rate of XT.34= El.00 *:* Price i;n EIHW~WI Curmxy au/kg S64l65 sandwich tile from Vulcan Refractories. 10
MPR May 1997
Units (ECU),
USQ570
million
for Sinter Metals ENGINEERING giant GKN plc has bid US$570 million for the world’s largest powder metallurgy (PM) parts maker Sinter Metals, based in Cleveland, Ohio, USA. Combined with GKN’s existing resources, the new PM firm would boast annual sales of around $530 million. GKN, which has its headquarters in the UK, has offered $37/share for the outstanding stock in Sinter Metals, an offer that has the approval of the management of both companies. The tender is due to close on 30 May, 1997, with the deal also subject to the normal regulatory approvals. If the transaction is completed, GKN’s expanded PM division will boast 22 plants in six countries, with affiliated companies in two more. GKN’s Powder Metallurgy Division currently operates two plants in both the UK and Italy, as well as having affiliates in Mexico and India. The Division posted sales last year of around $105 million. Sinter Metals has 18 production facilities in the USA, UK Germany and Sweden. The company’s sales in 1996 totalled $112 million, although if
a full year’s contribution is allowed for a number of significant acquisitions in the last two months that figure rises dramatically to $373 million. GKN chief executive, C.K Chow, and Sinter Metals chairman and chief executive officer, Joseph Carreras, both believe the merger will allow the enlarged business to achieve significant further growth through the introduction of new products, geographical expansion and further acquisitions. They say it will also provide opportunities for synergies through sharing technology, the improved utilization of production capacity and expanding capacity. GKN has operations in more than 30 countries with its total sales exceeding $4.9 billion from automotive, agritechnical, aerospace and defence products, as well as industrial services. The company operates four major research and development centres around the world which last year saw an investment of close to $100 million. GMV plc; tel: + 44-l 71. 930-2425; fax: + 44-l 71.
Powder ptices in this issue are for 1 May 1997, u&m othetise stated, and are quoted in the UK at E per kg {tonne lots), and in the USA at $ per Ib
(FOB toa lots).
USA IWW Alumiaium (100 mesh) Brass (80:20) Bronzzd (90: i0) Chromium (60 mesh)
Cobalt (100-400 mesh) Cobalt (qxtra fine)
2.70 2.52 2.70
4.90 40.00 60.00
1.51-1.66 1.81-1.91 3.66
1.16 0.96 0.84 1.02
8393638.
Tile for ferrite sintering A SANDWICH tile developed specifically for sintering applications in the soft ferrite industry has been developed by Vulcan Refractories Ltd of Stoke-on-Trent, UK The company says the ‘S64/65’ tile can withstand high temperatures and linear abrasion, as well as providing high purity surfaces. The tiles are composed of a core
layer of silicon carbide sandwiched between two layers of alumina. Vulcan says the tiles can withstand furnace temperatures up to 15OO”C,with typical continuous operating temperatures recommended at between 1300.1400°C. Vulcan Refractories; tel: + 44-1538-752238; fm: + 44-1538-753349.
* &asedon an exchange rate of XT.34= El.00 *:* Price i;n EIHW~WI Curmxy au/kg S64l65 sandwich tile from Vulcan Refractories. 10
MPR May 1997
Units (ECU),