FMP Joins Castolin Eutectic Group
It has been announced that the Castolin Eutectic Group has acquired Furnace Mineral Products (FMP), a privately-owned Canadian company based in Toronto, specialising in the research, development, manufacture and field application of innovative, inorganic-hybrid coatings. Castolin Eutectic Group is a division of the Messer Eutectic Castolin GmbH Holding, which is a German company based in Bad Soden, and this is the latest among several other recent acquisitions that are expected to significantly strengthen the businessâs place in the market. Castolin Eutectic Group is already a leading global player in providing the broadest range of innovative protective coating solutions to the industry; therefore this position has only been improved further now by the purchase of FMP alongside the previous acquisitions of Whertec Inc. and Monitor Coatings. The German company has dedicated 11 years to conserving the earthâs resources, enhancing plant performance and reducing maintenance costs through technology and an industry-leading quality and service level, therefore the types of acquisition it is making are very fitting in terms of the capabilities. FMP has enjoyed plenty of success itself on a global level, which has recently been highlighted as the company has entered markets such as the Middle East and Asia, on top of the huge presence it currently has in the USA. The power generation industry has been FMPâs main source of success when it comes to the coatings, but that is not to say its services donât cover a broader range of industries, with innovative wear and corrosion protection solutions helping to enter onto various other platforms. The recent activity conducted by Castolin Eutectic Group really does signal the ambitious nature of this company, and it certainly shows no signs of stalling. It would be hard to rule out further acquisitions during the rest of 2017, so keep an eye out on that as the business looks to further strengthen its global position!
