May 2, 2011 - Paramelt divests its business in pattern supply and jewelry wax – focus on the investment casting.
Paramelt, a leading producer of specialty waxes, today announced the sale of its pattern supply, liquid tooling materials, pattern letters, jewelry and dental wax businesses to Freeman Manufacturing & Supply Co. of Avon, OH USA. Paramelt, founded in 1898, is headquartered in Heerhugowaard, The Netherlands and has R&D and production facilities in The Netherlands, United States and China.
Paramelt Argueso Kindt
The divested business will be transferred to the Freeman manufacturing site. The heritage Kindt Collins investment casting wax products will continue to be produced in the Cleveland, OH site. The Cleveland, Muskegon, and Rosemead investment casting wax operations which were acquired by Paramelt in 2010 have been renamed Paramelt Argüeso Kindt. The company is the leading global supplier of specialty wax compounds to the investment casting industry.
Freeman Manufacturing & Supply Co. is a leading materials supplier to industries that design, develop, and manufacture products to precise sizes and shapes. Freeman is specialized in a wide variety of supplies needed in the stages of prototyping and low volume production as well as supplies for the dental and jewelry industry.
Focus on investment casting
‘This divestment enables Paramelt to focus on our investment casting customers’ says John Capendale, CEO of Paramelt. ‘Paramelt will further invest in the Cleveland site in order to fulfill our customer demands for improved process control and new product development.’
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.
Terms of the transaction were not disclosed.
For further information please contact Tom Planz at 602-770-5794, David Pekala at 630-841-9534 .
Paramelt, founded in 1898, is headquartered in Heerhugowaard, The Netherlands. The company has R&D and production facilities in The Netherlands (2), United States (3) and China. Paramelt is a manufacturer of specialty wax blends for cheese coatings, chewing gum, flexible packaging, cosmetics, investment casting, personal care, and tire and rubber modification. Paramelt’s global revenue is $250 million USD and employs 380 people. Paramelt also manufactures adhesives and aqueous dispersions.