December 12, 2010 - Paramelt, leading producer of specialty waxes, today announced the acquisition of The Kindt-Collins Company, through its US-based subsidiary M. Argüeso & Co., Inc.
Paramelt, founded in 1898, is headquartered in Heerhugowaard, The Netherlands and has R&D and production facilities in The Netherlands, United States and China.
The Kindt-Collins Company, established in 1914, is a supplier of casting waxes for the precision investment and jewelry casting industries as well as a wide range of pattern shop supplies. Kindt-Collins’ specialty shapes business is an industry standard in Jewelry and other markets. Kindt-Collins is recognized for its excellent service, product quality and technical expertise. The company has a strong presence in the United States, Europe, Asia and South America with production and R&D facilities in Cleveland, OH.
Global investment casting market
Paramelt’s position in and global access to strategic raw materials will help offset the tightening supply of critical raw materials, hereby improving supply security to its investment casting customers. The acquisition creates the critical mass necessary to support future investments in order to fulfill customer demands for improved process control and new product development. With this acquisition Paramelt now has wax manufacturing operations in Heerhugowaard, The Netherlands, Suzhou China, Muskegon MI, Rosemead CA, and Cleveland OH to serve the growing global investment casting market.
Paramelt Argueso Kindt
The US subsidiaries will operate under the name Paramelt Argüeso Kindt with headquarters in Muskegon, MI and under management of David Pekala. As VP Sales and Operations Tom Planz will be responsible for the Cleveland Operation and will lead the combined sales organization of the new entity.
With this acquisition Paramelt’s revenue will be $ 250 million with 430 employees. Terms of the asset transaction were not disclosed.
More details about the company and its activities can be found on www.paramelt.com, www.kindtcollins.com and www.argueso.com.