In order to expand its range of highly specialized solutions for the primary and mining industries, Quebec City-based Group M7, through its Metal7 division, is acquiring the assets of the Cast Corporation foundry. This modern company is specialized in the manufacturing of various critical components mainly for iron ore pellet plants. The transaction solely consists of the Cast Corporation foundry, which will be majority owned by Metal7, and the new entity formed will be known as Cast7 LLC.
Cast Corporation is a well-established company in northern Minnesota, in the heart of the Iron Range. Its expertise in iron ore pelletizing plants complements Metal7’s highly specialized range of solutions, reinforcing Group M7’s reputation in this industry.
Metal7 notes that Cast Corporation has the best technology in the area, all combined with an automated manufacturing process allowing it to be a leader in the U.S. market.
“The acquisition of Cast Corporation is part of our expansion and consolidation strategy intended to create a Canadian leader in high value-added products and services for the mining industry, a company whose expertise is recognized internationally,” said Bruno Fortin, chairman of Group M7.
The acquisition of Cast7 was supported by Export Development Canada. No monetary value was available.
Since February 1974, Metal7 has been designing and manufacturing innovative products and equipment mainly for iron ore pellet plants and aluminium industries. Visit www.Metal7.com.
