Bonds acquires Sheffield steel foundry
Bondshold Ltd is pleased to announce the acquisition of Darwins Holdings Ltd. (Darwins) of Sheffield from Sterling Fluid Systems UK Group Ltd. as of the 25 September 2015.
This strategic acquisition will give the Bonds foundry group increased manufacturing capacity and facilitate access to an expanded customer base.
Darwins is a longstanding steel foundry company with a good reputation, having been a strong competitor of Bonds in certain areas.
Recently it came under the ultimate ownership of Flowserve Inc. of the USA – one of the world’s largest manufacturers of pumps and a customer of Bonds – as part of Flowserve’s acquisition of Sterling SIHI.
Through acquisition and investment, including £4m to establish a new foundry site in Crook, County Durham, Bonds has grown substantially in recent years and Darwins will be an important addition to the Bonds’ foundry group.
Paul Duncan, chairman of Bondshold, said: “We are pleased to welcome Darwins to the Bonds’ group of steel foundries. With the fall in the price of oil having temporarily reduced the worldwide demand for flow castings, it is opportune for Bonds to gain access to new parts of the market through Darwins.
“Darwins will provide important capacity to the group when the market up-turn arrives”.
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Notes to editors:
- The Bonds foundry group comprises Bonds Foundry, incorporating Bonds CastTech, and Bonds Precision Castings along with its newest addition, Darwins.
- Located in the northeast Bonds’ foundries specialise in high integrity castings up to 12,000 kg for the power generation, oil/gas, marine/offshore and construction sectors, primarily for export.
- Darwins has been in existence since 1774 with last published turnover of £3.8m and approximately 50 employees. It has the capability of producing steel castings up 3,000 kilos.