Molten metal flow engineering and technology company Vesuvius announced on Thursday that it has agreed to acquire CCPI - a speciality refractory producer focused on tundish applications and aluminium.
The FTSE 250 company said CCPI, based in Ohio, would become part of its Advanced Refractories business unit.
The acquisition would be accretive to group return-on-sales even before synergies were considered, Vesuvius said.
“CCPI is a strategically important acquisition for Vesuvius, which significantly expands Vesuvius' North American presence in refractories used in steel tundish applications, while also increasing Vesuvius' exposure to aluminium,” said Vesuvius chief executive officer Patrick André.
“The financial rationale is compelling and we look forward to working with CCPI's management team to continue its strong track record of value creation.”