Indian auto parts manufacturer Endurance Technologies Ltd became the owner of Fonpresmetal Gap SpA – an Italian aluminium die casting company based in Bione in Brescia. Fonpresmetal will now be re-baptised as Endurance Castings SpA.
Endurance acquired the Italian company through its subsidiary Endurance Overseas Srl. Endurance says the €8.16 million purchase was funded with both internal accruals and external sources.
Fonpresmetal’s acquisition is part of Endurance’s expansion into the European continent, allowing the Indian company to increase overall casting capacity, help backward integration and provide future growth opportunities in Europe. With this purchase, Endurance is now the owner of nine manufacturing plants in Europe, of which six are based in Italy and three in Germany.
— FACE aluminium (@face_aluminium) January 8, 2019
Fonpresmetal has a capacity of 6,500 tones of which 50 per cent is dedicated for supplies to the Endurance Group companies in Italy. The Italian facility has thus been Endurance’s preferred supplier for highly complex aluminium die casting parts. The German Bosch Group is Fonpresmetal’s second most important customer.
Endurance – a public company based in Aurangabad (India) – is an automotive component manufacturer specialising in aluminium castings, aluminium alloy wheels, suspension and transmission systems, as well as braking systems.
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