SLIDE 1
Our Company:
Metalfit was established in Monterrey, Mexico in 1990 as a manufacturer of flanged pipe fittings for distribution to both the U.S. and Canadian markets. Much of the original tooling was purchased from Kuhn's, Inc. in Dayton, OH. Initially the company relied
- n
- utside
foundries to supply its casting
- requirements. It soon became apparent however that in order to offer the high
level of service Metalfit wanted to achieve we would need our own foundry. Since the principals of Metalfit all had strong foundry backgrounds it only made sense to vertically integrate into the foundry business. In 1995 we purchased a small cupola gray iron foundry in a suburb of Monterrey which is Pesqueria. The site is now approximately 9.2 Acres and has been under constant growth and development since our acquisition. We produced our first induction melt ductile iron in April of 1996. In January of 2000 Griffin Pipe Products acquired Metalfit and subsequently invested an addition $3MM in P&E over the next three years. After 3 years and several top management changes Griffin decided to discontinue it's participation in the fittings market with the exception of their large diameter proprietary fittings which Metalfit still produces today. The original owners of the company were
- ffered the opportunity to buy the business back as Griffin realized its potential