Avalon Precision Casting Acquired by Sigma Electric

Pune, India. August 21, 2019: Sigma Electric Manufacturing Corporation ("Sigma") a leading global manufacturer of ferrous and non-ferrous castings, precision machined components and sub-assemblies, today announced the acquisition of US-based Avalon Precision Casting ("Avalon").

Headquartered in Cleveland, OH, with additional plants in Wisconsin, Avalon manufactures investment castings products for blue-chip customers in the aerospace, defense, HVAC, power, agriculture, and oil & gas end markets.

The combination of Avalon's investment castings capabilities and Sigma's global, market-leading casting and precision machining capabilities brings significant product sourcing, supply chain management, and scale opportunities to each company's customer base. The combined business is well placed to be a valuable strategic partner as customers increasingly look to manage and streamline complex global supply chains and work with world-class casting suppliers with comprehensive product offerings across metal types and process capabilities.

Viren Joshi, Chief Executive Officer and President, Sigma Electric, said, "We are excited about the addition of the Avalon facilities, and warmly welcome Avalon as a part of the Sigma team. This acquisition combines the excellent investment casting capabilities of Avalon with the global presence and strengths of Sigma. The combination of both companies will add value for our combined customer base, as together we create a more comprehensive product and service offering leveraging the strengths of both companies."

David Palivec, President & CEO, Avalon, said, "We are proud of Avalon's long history as a valued supply partner for our investment casting customers. Our new partnership with Sigma will enhance our capabilities to help us better serve our markets and expand our product offering. We look forward to our next phase of growth as a part of Sigma's global platform."

About Sigma Electric Manufacturing Corporation

Headquartered in Garner, North Carolina, Sigma Electric Manufacturing Corporation, a portfolio company of Argand Partners, is a global leading manufacturer of precision machined castings and components. Sigma has twelve world class manufacturing facilities in India & Mexico and a Global Supply Chain delivery center in Garner, NC. Sigma supplies MNCs across the world in the electrical, lighting, home appliances, telecom, industrial and process instrumentation markets. Sigma offers customers a wide range of services including engineering and design, secondary finishing, assembly, packaging and global supply chain management. Sigma's engineering expertise, lean manufacturing practices, innovative products, and superior customer service makes it the preferred partner of choice for many of the world's leading brands.

About Avalon Precision Casting Company

Headquartered in Cleveland, Ohio, Avalon Precision Casting Company is a full-service turnkey casting platform, a one stop shop solutions and value add components manufacturer. Avalon has four fully equipped facilities in Ohio and Wisconsin for the manufacture of precision thin walled investment castings.

These castings are supplied to leading US customers in the aerospace, defense, HVAC, power, agriculture, oil & gas end markets. The company has certifications including AS 9100D, ITAR, PED, ANAB, ISO and Nadcap. Avalon has differentiated itself in the marketplace due to its people, processes, capabilities and expertise.

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For more information please contact Abhijit Kalyani, marketing@sigmaelectric.com.