PRECIMETAL has acquired the SETTAS S.A. precision foundry located in Charleroi (Belgium), part of the Anglo-American group DONCASTERS Ltd. This acquisition is enabled with the financial support of its historical partners, including CICLAD, majority shareholder since 2017. A new investor, the Belgian investment fund PROFINPAR,the management of PRECIMETAL and SETTAS also participated in the project.
SETTAS is a precision foundry (Lost wax and sand molding) producing mainly titanium parts up to 400 kg for the international aerospace and other industries. SETTAS currently employs 98 people and has achieved a turnover of 16 M€ in 2018 (https://settas.business.site/).
PRECIMETAL produces high precision metal parts in investment casting for the international aerospace, orthopedic, and industrial markets with expertise recognized by its customers. The merger between PRECIMETAL and SETTAS, 19 km apart, will allow to develop complementarity in terms of products and create commercial and industrial synergies.