Avalon Precision Casting Completes Acquisition of Precision Metalsmiths

CLEVELAND, Ohio (April 22, 2014) – Avalon Precision Casting is pleased to announce completion of the acquisition of Precision Metalsmiths, Inc. (PMI). Both companies are headquartered (with manufacturing) in Cleveland, Ohio. Additional production facilities are located in Jackson, Wis. (Avalon) and Markesan, Wis. (PMI). Terms of the transaction have not been disclosed.

Precision Metalsmiths manufactures high-precision, small thin-walled investment castings, ranging from fractions of an ounce to over 20 lbs. PMI produces complex castings in both ferrous and non-ferrous alloys, providing intricate internal coring, using both traditional shelling methods as well as their special solid mold process. Precision Metalsmiths provides solutions to the aerospace industry as well as for general industrial applications requiring complex small parts with thin walls, extremely fine detail and very tight tolerances.

"Together, Avalon and PMI represent a new era for investment casting companies greater than the sum of their parts," said David Dolata, CEO and owner of PMI. "Creating more opportunities and expanding capabilities are key to delivering what current and prospective customers have been asking for: new ways for the investment casting process to solve their ever-more-demanding metal parts challenges. Avalon's acquisition of PMI puts the combined company in a unique position to service customers needing metal shapes with value, quality, a wider size envelope and capabilities to offer parts complete to print within one company."

Avalon Precision Castings has grown out of the merger of Avalon Castings of Cleveland, Ohio and Craft Cast Company of Jackson, Wis. to become a provider of precision-cast parts up to 100 lbs. Avalon services blue-chip OEM customers in the general industrial, pump and valve, oil and gas, food and dairy, military and capital equipment industries.

“The partnership between Precision Metalsmiths and Avalon demonstrates our commitment to building an industry-leading investment casting company capable of servicing a broad array of markets and adding increased value to our current and future customers from multiple facilities around the country,” added Doug Ciabotti, current CEO of Avalon and leader of the newly combined business.

The combined company will operate four advanced manufacturing facilities in Ohio and Wisconsin, all featuring automation and robotics to produce precision castings from more than 200 different ferrous and non-ferrous alloys. Combined company certifications include ISO 9001:2008, PED, NADCAP, and ITAR. Together, the combined company will represent one of the largest enterprises in the commercial/industrial/aerospace segment of the investment casting industry.

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