On July 29, TRM Equity II, a Michigan-based private equity fund, acquired all of the equity of AFS Corporate Member WDC Acquisition LLC, known as Wellman Dynamics (Wellman), which is located in Creston, Iowa, and employs about 350 people. The 100-year-old aerospace supplier manufactures large scale, complex magnesium and aluminum castings for the defense and commercial aerospace markets.
Articles: Industry News
AFS Corporate Member Buck Co. Inc., in conjunction with its parent company, The Dixon Group, has acquired Richmond Foundry, LLC, a 50-year-old AFS Corporate Member in Dayton, New Jersey, that produces high-quality brass and bronze sand castings. Richmond’s 40,000-sq.-ft. facility adds capacity and capabilities that will benefit both companies’ customers.
This spring, Bob Swenson, former owner of AmeriTi Manufacturing, launched a new company in Detroit, TriTech Titanium Parts, which, he said, produces net shape titanium parts using the most appropriate technology for the part and the customer––and is backed with a fully domestic supply chain.
TriTech’s array of three production technologies includes 3D binder jet printing, metal injection molding, and investment casting. The 3D printing is its latest addition, featuring a binder jet process for producing complex titanium parts.
Potentia Manufacturing Group has purchased New England Foundry, LLC, formerly the Anbar division of Edson International. Located in Taunton, Massachusetts, New England Foundry—which specializes in sand casting of aluminum, brass, and bronze chiefly for the marine market, as well as aerospace and industrial markets—continues to manufacture its products in its updated Taunton facility.
The Brynavon Group Inc., a third-generation family firm based in Pennsylvania, has acquired Effort Foundry Inc. (Bath, Pennsylvania).
Effort Foundry has been in business since 1971 and produces castings for pumps, valves, power generation, and general industrial applications in a wide variety of alloys, including steel, stainless steel, nickel-based alloys, ductile iron, and gray iron.
Druid Capital Partners and Elyton Capital have bought AFS Corporate Member Franklin Iron Works, Inc. (FIW) and Alabama Castings, LLC––collectively known as “Franklin Iron.”
According to reporting by bizjournals.com, new ownership plans to retain all 145 Franklin Iron employees. A Druid Capital spokesperson told the BBJ that FIW is hiring for select positions at both of its locations in Thorsby and Aliceville, Alabama.
Dee Manufacturing, an affiliate of AFS Corporate Member Wisconsin Aluminum Foundry, is one of five companies to receive funding from the Minnesota Job Creation Fund and the Minnesota Investment Fund, according to an announcement August 18 from the Minnesota Department of Employment and Economic Development (DEED). Located in Crookston, Dee Manufacturing has been awarded $175,000, which will go toward facility expansion that’s expected to create 30 jobs in the next three years, with an average wage of $19.40 an hour.
The Swedish premium car brand Volvo Cars has purchased two Carat 840 die-casting cells for its factory in Torslanda, Sweden. The Carat 840, along with Carat 920, Bühler’s largest die-casting solutions, were launched in 2021.
In October 2021, Bühler launched the Carat 840 and the Carat 920 with locking forces of up to 92,000 kilonewtons (kN). With these machines, Volvo can produce structural castings for automotive body in white assemblies, known as megacastings.
Shinhwa Auto USA Corp. is adding a second auto parts manufacturing facility in Auburn, Alabama, as part of a $78 million growth project that will create 42 jobs over the next three years. The company will build a new 400,000-square-foot factory across from its existing location in Auburn Technology Park West.
AFS Corporate Member Grede Holdings LLC was honored in April with AGCO’s 2021 Sustainability Award for its continuous efforts to practice and improve environmental and social sustainability.
“Grede’s strategic energy management system enhances their financial position with money-saving energy management processes, reduces the company’s overall carbon footprint and energy usage, and instills a culture of energy efficient practices in all Grede foundries and facilities,” an AGCO press release stated.