BizLink Holding announced that it will acquire Singapore’s Speedy Industrial Supplies Pte., Ltd., for approximately US$47 million, a deal that will bolster its production and sales force in Southeast Asia.

A press release said that BizLink’s board of directors had approved the buyout bid, and both parties were expected to have closed the deal by the end of February. Speedy’s product lines include wire harnesses and cables, PCBs and other electronics components for industrial and medical applications. It has assembly lines in Singapore and Malaysia to serve clients mostly in Europe and the U.S.

“The acquisition is expected to help BizLink expand its customer bases in the medical field and expand its product portfolios for industrial applications, while better extending its business tentacles worldwide,” the release said.

Per the website of BizLink, the company, based in the U.S. in Silicon Valley, has manufacturing bases in the U.S., Mexico, Slovakia, Serbia, Malaysia and China, the latter of which represents 65% of its production capacity. The company had relocated part of production to Southeast Asia and Mexico among other places in the wake of the U.S.-China trade dispute

BizLink was founded in 1996, and was listed on the Taiwan Stock Exchange (TWSE) in 2011. Of note, it was named to Newsweek’s 2020 list of America’s Most Responsible Companies, and Deloitte’s “2019 Asia Pacific Technology Fast 500.”

MAGNIFIN Magnesiaprodukte GmbH & Co KG (MAGNIFIN), a 50-50 joint venture, is one step closer to finalizing the location of a second facility to expand its production of magnesium hydroxides

A press release said that the MAGNIFIN board has approved the preparatory work for what will be the JV’s second such plant. MAGNIFIN is a joint venture between Martinswerk GmbH, part of the Fire Retardant Additives (FRA) business of the Huber Engineered Materials (HEM) division of J.M. Huber Corporation (Huber) and Veitscher Vertriebsgesellschaft mbH, part of the group of companies of RHI Magnesita N.V. (RHIM).

“This planned significant investment is driven to meet growing global demand and support the growth of its customers for high-purity, halogen-free magnesium hydroxide fire retardants,” the release said. The new plant would manufacture the same product portfolio being made at Breitenau, Austria. This expansion project would further enhance the company’s ability to deliver premium magnesium hydroxides (MAGNIFIN®) and would provide additional supply chain flexibility for its customers.

MAGNIFIN coated and uncoated magnesium hydroxides are environment friendly, non-halogenated flame retardants used in a wide range of polymer applications, especially thermoplastic materials and elastomers requiring high processing temperatures in excess of 200°C.
A spokesman said that the location is expected to be in Europe, likely the eastern part of Europe, and will serve the European and Eastern Asian markets. The new plant will take approximately three years to build. Modular steps will be taken in regards to capacity, but it’s ultimately expected to double current capacity.

Acciaierie di Calvisano (Feralpi) announced that it is waiting final approval of the proposal it made to its 50-50 partner in the Caleotto wire rod mill.

A published report said that its partner, Duferco Italia Holding, has agreed to sell its ownership in the rod mill in northern Italy. Caleotto supplies special wire rod to a number of markets, including the automotive sector

Southwire plans to close operations at its plant in Hayesville, North Carolina, effective March 31.

Per a report in the Clay County Progress, the plant, acquired by Southwire in 2014, employs some 45 employees. Production there will be moved to other Southwire plants. “This decision is not a reflection on the people, the quality or the performance of the facility, nor is it one we take lightly,” said Rich Stinson, Southwire’s president and CEO. “As we look at our long-term strategy, we must ensure we are properly aligned to make the best use of our facilities and best meet the needs of our customers.”

Italy’s Mario Frigerio SpA announced that it has acquired the intellectual property rights (IP rights), as well as the inventory, of Germany’s ERNST KOCH GmbH & Co., KG, a storied equipment manufacturer.

A press release said that Mario Frigerio has established a new company—KOCH Machinery and Technology GmbH (KOCH)—in Germany. Lucia Frigerio, executive vice president of Mario Frigerio, will also serve as managing director, along with Jochen Koch. Lucia Frigerio said that the deal enables the resulting organization to offer “the world’s best European technology,” and that it will be able to quickly respond to service needs around the world, and will stock original spare parts.

“With this acquisition, the MFL GROUP will strengthen its worldwide presence, and complete its portfolio of products in the Wire and Rope Division with reinforcement steel wire lines as well as cold heading wire lines,” Frigerio said in the release. It noted that KOCH will also service the complete program of the former entity. That includes spare parts supply, maintenance programs, electrical revamping and mechanical retrofitting.

Founded in 1921, Ernst Koch GmbH supplied its first wire machine in the 1930s, built by master mechanic Ernst Koch. In the 1950s, his sons, Albert and Heinrich, began supplying wet drawing machines, take-up frames for galvanizing lines, and wire straightening and cutting machines. In 1969, it partnered with WAFIOS AG to provide specialized drawing machines and cold-rolling technology. The company expanded its product range over the years, to where it had some 130 employees, customers in more than 60 countries, with 80% of its products are now being exported.