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-sq.-ft. factory across from its existing location in Auburn Technology Park West.
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.
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.
McWane Ductile Ohio––part of the McWane, Inc. family of companies––has announced a $45 million total investment in its Coshocton County plant. Its investment has more than doubled since the initial $21.5-million collaboration was finalized with JobsOhio, the Ohio Department of Development, Ohio Southeast Economic Development (OhioSE) and the Coshocton County Port Authority, including a 1.372%, six-year Job Creation Tax Credit from the Ohio Tax Credit Authority.
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 Lawton Standard Co. has recently added Northern Iron & Machine (NIM) located in St. Paul, Minn., to the Lawton Standard family as part of its expansion strategy. NIM produces and machines high-quality gray, ductile, and austempered iron castings up to 250 lbs. This adds to The Lawton Standard Co.’s offerings by both size and method. This will benefit both Lawton and NIM customers with expanded sourcing options.
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.
The sibling owners of Tonkawa Foundry, Inc., (TFI) Tonkawa, Oklahoma, have sold their family business to Mauricio and Alhena Torres, who assumed ownership January 1. The couple has relocated from Dallas with their four-year-old daughter, Paloma.
Having operated the foundry for over 40 years, Sandy Salisbury Linton and Jim Salisbury said they’re pleased the company will remain a family-owned business.
The Metal7 Inc. division of M7 Group, Sept-Îles, Quebec, has announced its acquisition of the assets of the Cast Corporation foundry (Hibbing, Minnesota), which specializes in the design and manufacture of high-performance castings for furnaces, as well as special alloy castings mainly for iron ore pelletizing plants. The newly formed entity is CAST7 LLC.
AFS Corporate Member Grede Holdings LLC (Southfield, MI) announced a sharpened focus on e-mobility to leverage electric vehicle opportunities for the light vehicle, commercial vehicle, and industrial markets. Developing and quoting millions of dollars in cast iron solutions for the electrification market, the company said its increasing commitment aligns with a growing e-mobility market they expect will rapidly accelerate from 2025 to 2030.