The Goldschmidt Thermit Group, a company based in Germany that specializes in welding, acquired 100 percent of PortaCo, Inc., a producer of hydraulic power units and tools headquartered in Moorhead, Minn. The Goldschmidt Thermit Group has been represented in the United States market since 1967, by Orgo-Thermit, Inc.
“The United States are investing heavily in the new construction and maintenance of rail infrastructure, explained Dr. Hans-Jürgen Mundinger, chairman of the managing board at the Goldschmidt Thermit Group. “Rail traffic in the North American market becomes more important. This is evident with high-speed rail projects, such as the ongoing California high-speed rail initiatives. Local public transport railway networks are also being vigorously expanded and cities, such as Atlanta and Los Angeles, are extending their transit networks. This is an important growth market for our company. The acquisition of PortaCo enables us to complement our product portfolio and strengthen our activities in the area of the manufacture of special tools for the servicing and maintenance of rail systems in the U.S. market considerably.”
The Goldschmidt Thermit Group has been expanding its market presence internationally for a number of years. The product portfolio is divided into the five areas of rail joining (welding), rail services, measurement, tools and machines and equipment.
“The successful development in recent years has laid the foundations for further growth,” stated Mundinger. “We are therefore exploring the possibilities of further acquisitions and cooperation agreements to further expand our position worldwide.”