Netshape Technologies acquires Capstan Tennessee
December 16, 2014
NetShape Technologies, Inc., based in Floyds Knobs, Indiana, USA, has announced the acquisition of Capstan Tennessee Inc., a leading Powder Metallurgy (PM) competitor serving the precision components market. The terms of the transaction have not been disclosed.
Following the announcement the Capstan Tennessee facility will be known as NetShape Rockwood. “We are very excited to add the Rockwood facility to the NetShape team. This acquisition adds significant technology and capabilities to NetShape, further expanding our addressable applications in the market and supporting our goal of being the leader in innovative customer solutions,” stated Dax Whitehouse, Chief Executive Officer of NetShape.
Capstan Tennessee’s former General Manager, Loren Bone, has assumed the role of Director of Operations for NetShape Rockwood. “I am looking forward to becoming a part of NetShape and to be able to expand our sales, marketing and engineering capabilities to better serve our customers,” stated Bone.
“The plant in Rockwood, which is ISO 9001 registered, has an outstanding reputation in the market and brings significant added technology to NetShape, further helping us to serve your needs more fully. This acquisition is additive to our capabilities and capacity, and we do not anticipate product shifts between plants,” stated Don Leonard, Chief Marketing Officer .
NetShape Technologies is a global manufacturer and metal components supplier with manufacturing and sales sites located in North America, Asia and Europe. NetShape designs and produces engineered components via Powder Metallurgy (PM) and Metal Injection Moulding (MIM) technologies.