SOCOMORE reinforces its position in North America
Published on 08 février 2011
Groupe Méaban, Socomore’s parent company has acquired MagChem Inc. of Montreal, Canada effective February 1, 2011.
This acquisition will allow Socomore to reinforce its position in North America and comes as an addition to its recent investments in Dysol Inc. and Dynamold Inc.
Socomore and Magchem are specialized in the supply of aerospace grade chemicals used for surface finishing. They have been partners for many years thanks to a cross licensing agreement under which Magchem manufactured and distributed the Socomore product lines in North America and Socomore manufactured and distributed the Magchem lines in Europe and Russia.
Magchem designs, manufactures and distributes its line of products used in cleaning jet engine parts in OEM manufacturing and MRO facilities. These products have won numerous approvals from Aerospace manufacturers and operators, most notably from engine manufacturers. Magchem is a major player in this market and works with numerous customers on a global scale. Among these are engine OEMs Pratt & Whitney, Rolls-Royce, GE, CFMI, Snecma, Turboméca and as well as numerous MRO companies such Air Canada, Air France Industrie, Lufthansa Technik, etc.
This acquisition follows the recent acquisition of a 49% stake in Dysol Inc. located in Texas and its subsidiary, Dynamold Inc, whose products have been approved by all major North American civil and military aeronautical manufacturers and U.S. and Canadian military services.
Dysol manufactures and distributes a line of patented, environmentally compliant solvents for different uses (general degreasing, surface preparation before painting, bonding or sealing) on metal and composites. One of well-known products in the Dysol product line is DS-108, the most widely approved cleaning solvent in the Aerospace industry.
Dynamold manufactures and distributes a number of specialized products for the Aerospace and Marine industries, most notably DMS-4-828 Moldable Shim for the shimming of metal and composite parts during the assembly process. Dynamold also has a line of NonDestructive Testing and Replication materials, including the patented Magnetic Rubber Inspection Material MR-502.With combined sales of more than €6 million in North America, Dynamold, Dysol and Magchem will be managed by Socomore as a single commercial and industrial entity with joint R&D. Jim McKinney, the CEO of Dysol, will take over the role of President at Magchem and coordinate the activities of the combined companies. This new team will be set up with the customers’ full cognizance and participation so that the continuity of our outstanding service and products is wholly assured. These three companies are certified to AS9100 and/or ISO 9001.
In 2010 before these acquisitions, Socomore had worldwide sales in excess of €16 million (mainly in Europe), of which 73% was in aeronautics. Socomore offers to aircraft and engine manufacturers, equipment suppliers and subcontractors, different lines of products developed in the Socomore R&D facilities to meet our customers’ specialized needs including solvents, presaturated and dry wipes, degreasers, paint strippers, deoxidizers, corrosion inhibitors, etc.
Frédéric Lescure, President of Socomore welcomes this new phase in the Group’s international development: "Socomore has been reinforcing its capacity to accompany its customers in their international development for the last 10 years by opening subsidiaries and sales offices in Europe, China, Russia, South America…..our acquisitions in North America are the result of our customers needing to make their investments profitable globally, notably for approvals. Therefore we would like to give them the opportunity of offering our products to their subcontractors and their own customers in competitive economic conditions"
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