U.S.-based Fisk Alloy, Inc., announced that it has agreed to be bought by Thermo Technologies, a French company that is active in five companies in three continents (Europe, North America and Asia), for an undisclosed sum.
A press release said that the deal represents โa strategic combination designed to create a global expert in high-performance copper alloy wires.โ Fisk Alloy, founded in 1973, manufactures advanced copper alloy wire for sectors such as automotive, medical, electronic and aerospace. It has some 200 employees at its plant in Hawthorne, New Jersey.
Thermo Technologies produces electrolytic precious metal coatings, EDM wire, high-tech solid and stranded copper, copper alloy and aluminum wires, and more. It is controlled by Edify SA, a Swiss industrial holding company listed on the Euro-MTF market of the Luxembourg Stock Exchange.
Thermo Technologies CEO Gilles Mollard will oversee the combined operations. Eric Fisk, CEO and controlling owner of Fisk Alloy, โwill step aside from day-to-day operations, become a significant investor in Thermo Technologies and join its Supervisory Board.โ Current Fisk management will run the companyโs U.S. operations, which will retain the Fisk name. The transaction is expected to close at the end of the first quarter of 2020.
