AFS Corporate Member Metal Technologies Inc. (Auburn, Indiana) has acquired AAASE’s Mexico machining operations in San Luis Potosi, Mexico, which will do business as Metal Technologies Maquinados de SLP (MTMS)––the existing management team remains in place going forward.
Articles: Industry News
A new Pillar Induction furnace with 1-ton melting capacity has been installed at AFS Corporate Member Kimura Foundry America, Inc. (Shelbyville, Indiana). The addition enables Kimura to meet customer demand for heavier casting parts, particularly in the construction, agricultural machinery, power generation, oil & gas, pump and compressor industries. The foundry also expects to improve pouring efficiency and casting turnaround thanks to the high-capacity furnace’s ability to pour multiple parts simultaneously.
TRM Equity has acquired Elyria Foundry and Hodge Foundry (Elyria, Ohio), a company specializing in ductile iron castings up to 200,000 pounds and serving many markets including defense, oil and gas, construction equipment and mining. Elyria Foundry has operated since the early 1900s and has developed a strong technical and metallurgical team that drives its success.
AFS Corporate Member The C.A. Lawton Co. (DePere, Wisconsin) has acquired Penn-Marr, a gray-and-ductile iron foundry in Hanover, Pennsylvania.
Penn-Mar manufactures multicored, gray and ductile iron castings ranging from 150 to 5,000 lbs. Using an air-set, nobake molding process, it serves the refrigeration/air conditioning, pump/compressor, and motor/generator industries.
IBC Advanced Alloys, Franklin, Indiana, is planning to invest more than $5 million to build and outfit a 32,000-square-feet copper casting facility on its current property, according to a Daily Journal report by Leeann Doerflein. Also known as Non Ferrous Products, Inc., IBC manufactures beryllium and copper advanced alloys parts for the defense, aerospace, automotive, telecommunications and precision manufacturing industries.
Lakeside Casting in Monroe City, Missouri, has announced plans to buy out the remaining $600,000 of its real estate lease with the city and expand this year, according to area’s local The Herald-Whig newspaper.
“My focus has always been on growing jobs,” Controlling Owner Chuck Mudd told reporter Forrest Gossett. “That’s the reason that we started this.” His company plans to build a new warehouse that will allow for manufacturing growth.
Premier Engineered Products’ (PEP, Grand Rapids, Michigan), which owns Appalachian Cast Products (Abingdon, Virginia), has a new investor; Charter Growth Capital Fund (CGCF) has provided mezzanine debt in support of PEP’s recapitalization. Birmingham, Michigan-based Colfax Creek is the lead investor in the transaction. Colfax Creek and foundry veteran Mike Ryan, formed PEP in January 2019 to recapitalize Appalachian Cast Products (ACP) and integrate Premier Die Casting's production into its Abingdon facility.
AFS Corporate Member General Motors (Warren, Michigan) announced on September 28 it will invest $71 million into two Ohio manufacturing facilities including $32 million at its Defiance casting plant to prepare the facility for future engine casting components work.
Ryobi Die Casting (USA), Inc. (Shelbyville, Indiana), a supplier of large complex aluminum die castings, was recognized for a third consecutive year late this summer with an Excellence in Quality & Delivery Award from Honda. As one of only 26 out of 735 OEM parts suppliers serving Honda with parts for mass production to be awarded, Ryobi ranks in the top 3.5% of Honda North America’s excellent supply base for quality and delivery.
IBC Advanced Alloys Corp., (Franklin, Indiana) has been awarded $1.9 million in new orders for investment-cast, beryllium-aluminum (“BeAl”) components from a major U.S. defense contractor. The purchase order is for additional BeAl components currently manufactured by IBC, as well as for new BeAl components, both of which the company expects to produce by the end of 2020.