GREDE HOLDINGS, LLC
4000 Town Center
Suite 500
Southfield, MI 48075
(248) 440-9500
Georg Fischer grants iron alloy license to Grede – Geographical partnership also agreed upon
Southfield, Mich. – November 29, 2011 – Georg Fischer and US based metal components supplier Grede Holdings LLC, signed a license and partnership agreement by which Georg Fischer grants Grede a license to use the successful SiboDur® alloy in the US. Also, both parties have agreed to a mutually beneficial coverage of each other’s customer needs in which Grede would manufacture on behalf of Georg Fischer in the US and Georg Fischer on behalf of Grede in Europe and Asia.
SiboDur® is an innovative iron alloy recently developed by Georg Fischer and already in use at key customers. It allows for a much lighter construction of chassis parts and competes successfully with aluminum in terms of weight and performance, but at a much lower cost.
Josef Edbauer, Head of GF Automotive stated: “Whilst fostering the penetration of our SiboDur® alloy in the US, this agreement enables both our companies to better serve the global platform needs of our respective customers.”
Doug Grimm, chairman, president and CEO of Grede Holdings LLC, said: “Georg Fischer’s SiboDur® provides us with outstanding options for our customers. In addition, the agreement allows each of us to support our customers globally and penetrate new geographical markets.”
About Georg Fischer - Corporate Profile Georg Fischer - "Adding Quality to People's Lives" Georg Fischer focuses on its three core businesses GF Piping Systems, GF Automotive and GF AgieCharmilles. Founded in 1802, the company is headquartered in Switzerland and has 130 companies, 50 of them production facilities, in 30 countries. Its approximately 13,000 employees generated sales of 3.5 billion Swiss francs in 2010. The Corporation makes a direct contribution to the quality of life. Comfort, mobility and precision are the key market requirements that Georg Fischer satisfies with its products and services. You'll find further information at www.georgfischer.com
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About Grede Holdings LLC - Grede Holdings LLC was formed in 2010 through the combination of assets of the former Grede Foundries, Inc., Blackhawk Foundry (USA), and Citation Corporation. With estimated annual revenues approaching $1 billion, the Grede Holdings LLC legacy dates back to 1920 when William J. Grede founded Grede Foundries, Inc. with an iron foundry in Wauwatosa, Wis. Privately-held with headquarters in Southfield, Mich., the company specializes in high quality ductile, gray and specialty iron castings, including lost foam and high silicon molybdenum applications. Grede Holdings LLC has 5,000 employees and operates 16 foundries and four machining operations in North America serving the transportation and industrial markets globally.
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For more information about Grede, contact: Sarah Moore, The Millerschin Group at 248-276-1970
smoore@millerschingroup.com