U.K. Firm Buys Steel Casting Facility to Diversify Production
November 19, 2015
Bondshold Ltd., Durham, U.K., purchased Darwins Holdings, which operates Darwins Castings, a steel sand casting facility in Sheffield, U.K. The acquisition will give Bondshold three metalcasting operations, in addition to sites in Durham and Cumbria.
Serving power generation and water processing industries in addition to oil production, Darwins will diversify the markets served by its new parent group, which had been primarily focused on oil and gas.
“We are pleased to welcome Darwins to the Bondshold group of steel foundries,” said Paul Duncan, chairman, Bondshold. “With the fall in the price of oil having temporarily reduced worldwide demand for flow castings, it is opportune for Bonds to gain access to new parts of the market through Darwins.”
The newly expanded company will employ approximately 270 people across all its facilities. Bondshold serves major multinational operations such as ExxonMobil, Siemens and General Electric.