Royal IHC and German company DIHAG Holding GmbH have jointly acquired the Belgian steel and iron foundry, Allard-Europe NV.
IHC and DIHAG each take an equity stake of 40% and 60% respectively.
Through this acquisition, IHC is able to realize a reliable supply chain (competitive on price, quality and delivery time) for strategically important casting products, as well as improve its product development capabilities.
At its foundry in Turnhout, Allard-Europe casts high-grade steel and iron components, which it then supplies to various markets including dredging, offshore and shipbuilding.
The company specializes in bespoke products and short production runs.
DIHAG does not yet operate in this market segment and intends to implement a number of operational revisions, after which an improved market position and a growth in revenues is expected.