Industry News

Wisconsin Aluminum Foundry to build, renovate with $11 million tax credit

Cinnaire, a nonprofit community development financial organization, has secured an $11 million New Markets Tax Credit Investment for AFS Corporate Member Wisconsin Aluminum Foundry (WAF), based in Manitowoc, Wisconsin. With it, the foundry will be able to expand with more manufacturing and office square footage. With the expansion comes 80 new jobs. 

Progressive Foundry renovates for future growth

AFS Corporate Member Progressive Foundry, Perry, Iowa, is launching another phase of its renovation improvements late this fall, with a $2.5 million investment to update its shakeout system. The company has purchased a new Didion media drum and several new conveyors from General Kinematics for the project, which is aimed at reducing casting breakage and lowering shotblasting cycle times. 

Shinhwa plans $114M Alabama expansion

Shinhwa Auto USA Corp. announced last month it will invest $114 million to expand its manufacturing operation in Auburn to support the production of electric vehicle parts.

The growth project will create 50 jobs and add a new 170,000 sq.-ft. production building on Shinhwa’s campus in Auburn Technology Park West. The expansion will be the South Korean company’s third since selecting the Alabama city as the site of its first U.S. plant in 2019.

Benton Foundry earns Metalcaster of Year award with expansion

Modern Casting magazine has named AFS Corporate Member Benton Foundry its “Metalcaster of the Year.” Based in the mountains of central-eastern Pennsylvania, the iron metalcaster completed one of the largest expansions in its history last fall: The 70,000 sq. ft. of new and renovated space improved and enhanced its coremaking capabilities, increased capacity and efficiency, improved process control, and added 50 new jobs.