The main details of the acquisition are as follows:
- 100% of the shareholding in PRL has been acquired by CRL effective from 31st March 2017.
- PRL is now a subsidiary company of CRL.
- There is no change to purchase ordering, PO’s should still be placed on PRL in the same way as in the past.
- There is no change to payment. Payments should still be made to the PRL bank account that you have used in the past.
- There is no change to the staffing of PRL with the exception that Steve and Debbie Mills (the previous shareholders) have stood down as directors.
- Steve Mills will continue to provide technical and sales support to PRL in a consulting role.
Background of Capital Refractories Group
- Capital’s customers are metal melters and other heat process industries
- A family company established over 60 years ago.
- Global presence with clients in over 40 countries.
- 280 employees at 10 main sites in the UK, US, Europe, China and India.
- We manufacture a range of refractories for metal melting applications at 4 sites in the UK, USA, China and India.
- We manufacture a range of technical ceramics at 3 sites in the UK and 1 in the Czech republic.
- Our technical ceramics are used for melting and pouring in investment casting, cores for Aerospace and Industrial Gas Turbine applications, superalloy laundering and distribution, aluminium production, metal flow control and kiln furniture.
- Our technical ceramics processes include vibrocasting, pressing, slip casting, injection moulding, vibro-ram and freeze casting and our materials include silicon carbide, alumina, silica, magnesia and zirconia.
- We pride ourselves on innovation, we reinvest 10% of net profits in R&D, have working relationships with several universities and hold several patents for our technical ceramics.
- Our headquarters are at Clowne near Sheffield, UK.
Our interest in acquiring PRL is to augment our existing portfolio of technical ceramic products to offer our customers a wider choice of solutions. Our aim is to develop Pyemetric’s flow control technology further through materials development as well as a number of recently patented ideas offering innovative flow control solutions to our customers.
I can reassure all Pyemetric customers that the product performance and high service they have received from Pyemetric will not be compromised, in fact CRL’s aim is to invest in the company – personnel, technology and equipment, to improve the production process, improve product performance, price competitiveness and service.