FOMAS Group Acquires Ajax Rolled Ring & Machine
Italy’s FOMAS Group acquired Ajax Rolled Ring & Machine, a producer of seamless rolled rings used in a variety of critical components destined for the oil and gas, wind energy, aerospace, construction equipment and other major industries. Terms of the acquisition were undisclosed. The South Carolina-based company’s product lines are highly complementary to those of FOMAS Group, with limited product overlap. Ajax’s operation is strategically aligned with the FOMAS Group’s objective to provide turnkey solutions from forging and ring rolling to a fully finished machined and pre-assembled part.
“The acquisition of Ajax is another important step in our journey to excel in the forging industry,” said Jacopo Guzzoni, vice president and CEO of FOMAS Group. “This transaction will strengthen our presence in the U.S., where a local production site will be regarded very positively by our customers.” FOMAS Group was established in 1956 and has over 1,300 employees. The company manufactures forgings and seamless rolled rings in any type of steel and nonferrous alloy for a variety of critical industries.