Busche, MetalX ink announce sourcing deal
Greater Fort Wayne Business Weekly
Busche Performance Group and MetalX have finalized an agreement that will make MetalX responsible for managing the sourcing of all aluminum raw materials for BPG’s foundries.
The deal was effective Jan. 1.
“This agreement will allow the foundry division to be better connected to the aluminum markets and gain significant benefits from the MetalX team’s expertise with buying and selling of aluminum raw materials in the metals marketplace. This will also allow BPG foundries to focus on growing their foundry operations and partner with a highly regarded metals recycling and trading company that already has demonstrated performance with managing scrap for all of our U.S. machining facilities,” Daniel Dressler, vice president of procurement and business development for parent company BPG said in a Jan. 15 announcement.
The BPG foundries will maintain direct responsibility for payment to suppliers, establishment of material specifications, and governing terms and conditions.
The two companies have worked closely together for a number of years.
“This strategic partnership is the result of a joint effort to develop a sourcing model that will allow BPG’s foundries to concentrate on the design and manufacture of aluminum castings for critical applications, and at the same time, benefit from the savings that will arise from a comprehensive metals management strategy,” said MetalX President and CEO Danny Rifkin. “We believe that our ability to access a much broader supply base will ensure consistent availability of quality raw materials to support Busche’s dynamic growth plans."
Busche Performance Group is one of the largest vertically integrated casting and machining suppliers of chassis components in North America. Its annual revenues are nearly $400 million and it employs nearly 1,500 in people in 15 facilities in Indiana, Michigan, Alabama and Ramos, Mexico.
Busche Aluminum Technologies is the aluminum foundry division of BPG.
MetalX is a privately held, independent scrap metal recycling business founded in 2012 by Danny and Neal Rifkin.