FS-Precision Tech Co LLC, a subsidiary of Fu Sheng Industrial Co, Ltd., has acquired the non-golf business and certain assets of Coastcast Corporation. The all cash transaction included the Rancho Dominguez facilities and assets. Coastcast has retained its liabilities, accounts receivable, cash and certain other assets.
The acquisition provides Fu Sheng entry into global medical and automotive markets to complement its positions in air compressor and premium golf club head markets. FS-Precision retained substantially all of the existing production labor force and anticipates no interruption of manufacturing operations.
“The investment casting experience and financial strength of Fu Sheng Industrial give us tremendous opportunity to build our orthopedic implant and titanium turbocharger impeller sales,” said Mike Wellman, President of FS-Precision Tech. “We're looking forward to modernizing our facilities and processes to bring more value to our customers, and to seek additional markets for our precision castings.”
