Amcast Completes the Sale of its Aluminum Components Business - aftermarketNews

Amcast Completes the Sale of its Aluminum Components Business

Amcast Industrial Corp. has sold the assets of its Aluminum Components business to Park-Ohio Holdings Corp., a Cleveland, Ohio-based provider of supply chain logistics services and manufacturer of aluminum products. The acquisition includes operations located in Wapakoneta, Ohio; Richmond, Ind., and Cedarburg, Wis., with annualized revenues in excess of $65 million.

DAYTON, OHIO — Amcast Industrial Corp. has sold the assets of its Aluminum Components business to Park-Ohio Holdings Corp., a Cleveland, Ohio-based provider of supply chain logistics services and manufacturer of aluminum products. The acquisition includes operations located in Wapakoneta, Ohio; Richmond, Ind., and Cedarburg, Wis., with annualized revenues in excess of $65 million.

Amcast Industrial manufactures technology-intensive metal products for the automotive, construction and industrial sectors.

The sale represents a strategic addition to Park-Ohio’s General Aluminum business. Edward Crawford, chairman and CEO of Park-Ohio Holdings, said the company expects the acquisition to be moderately accretive to earnings beginning in the fourth quarter of 2004 and have a more significant impact in 2005. “We maintain our previously released EPS estimates of $1.80 to $2 for the year 2004,” Crawford said.

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