Lansco Die Casting Company 711 South Stimson Avenue City of Industry, CA 91745 Lansco Die Casting was a California Die Casting Company. California Die Casting Companies are experiencing many difficulties. Kinetic Die Casting is also a California Die Casting Company. …
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Category Archives: Die Casting Company
Empire Die Casting Co Files Chapter 11
The leadership at Empire Die Casting Co. of Macedonia has filed for Chapter 11 bankruptcy protection and hopes to sell the company soon. New Growth Capital Group LLC of Hudson has submitted a letter of intent to acquire the assets of Empire Die Casting for $11.7 million in cash. New Growth Capital Group would be designated as a stalking horse bidder for the auction, and Empire Die Casting would pay a break-up fee of $180,000 if New Growth Capital Group is out-bid.
Carl Harbert, managing partner of New Growth Capital, said the small group of operators is looking to buy companies in which they can remain invested for 30-plus years. Empire Die Casting would be New Growth Capital’s first acquisition.
Robert Hopkins, president of Empire Die Casting, declined to disclose potential buyers of the business, but did say the interested parties plan to keep the aluminum and zinc casting company in Macedonia and to grow it.
Mr. Hopkins said the desire to sell the company has come up in the last two months. He said the company’s owner is looking to retire and get out of the business.
The bankruptcy was filed Oct. 16 in U.S. Bankruptcy Court in Akron. The company listed assets of between $10,000,001 and $50 million, and liabilities of between $1,000,001 and $10 million. There are about 200 employees at the company’s plant at 635 E. Highland Road.
The bid deadline listed in the bid procedures order is 5 p.m. Dec. 16. Marc Merklin, a managing partner in the Akron office of law firm Brouse McDowell LPA, said the court will hear the request for the bid procedures on Nov. 5. Until then, the terms in the referenced documents are not final.
The main hurdle Empire Die Casting faces is a potential liability in its multiemployer pension plan, which it’s addressing through the Chapter 11 bankruptcy filing. New Growth Capital’s letter of intent specifies that its proposed purchase would exclude rights, interests and liabilities regarding employee collective bargaining agreements and employee retirement/pension/benefit plans, among other corporate governance materials.
Mr. Merklin said the pension plan has a multimillion-dollar liability and is “unworkable” as is. He said with a multiemployer plan, when one employer withdraws from the plan, it puts pressure on the others. That means penalties for such plans are high.
According to a document included in the Chapter 11 filing, Empire Die Casting had $34 million in sales last fiscal year. The document notes that profitability and cash flow for the company have decreased in recent years due to “production inefficiencies.” The company also saw an increase in indirect costs and “ineffective implementation of a new enterprise resource planning (ERP) system,” which made it difficult for Empire Die Casting to manage its costs and pricing.
(citation http://www.crainscleveland.com/article/20131024/FREE/131029883)
See the Kinetic Die Casting Company Blog prior post:
Empire Die Casting Company Bankruptcy Filing
(citation http://www.amm.com/Article/3268180/Empire-Die-Casting-files-for-bankruptcy.html)
Kinetic Die Casting Company. The parts we make today, we ship today. Contact Kinetic Die Casting Company and ask how we can help your company.
Kinetic Die Casting Company (http://www.kineticdiecasting.com)
6918 Beck Avenue
North Hollywood, California 91605
818-982-9200
sales@kineticdc.com
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#kineticdc @kineticdc
Empire Die Casting Company Bankruptcy Filing
Empire Die Casting Company Bankruptcy Filing – CHICAGO — Empire Die Casting Co. Inc. has filed for Chapter 11 bankruptcy protection and is seeking court approval to be acquired by a company that would operate it as a going concern. The Macedonia, Ohio, aluminum and zinc parts maker cited production problems as well as high labor and freight costs as reasons for filing the petition according to documents filed in U.S. Bankruptcy Court in Ohio.
Empire Die Casting, owned 97.7 by Chairman and Chief Executive Officer, Richard Rogel, also blamed its troubles on the ineffective implementation of the new enterprise resource planning system, according to court documents.
(citation http://www.amm.com/Article/3268180/Empire-Die-Casting-files-for-bankruptcy.html)
Kinetic Die Casting Company is saddened that another US Manufacturer is experiencing difficulties in the US marketplace today. Many manufacturers are faced with the same problems as Empire. We, on the other hand, are experiencing growth through better delivery and better quality from our lean manufacturing processes. The parts we make today, we ship today. Contact Kinetic Die Casting Company and ask how we can help your company.
Kinetic Die Casting Company (http://www.kineticdiecasting.com)
6918 Beck Avenue
North Hollywood, California 91605
818-982-9200
sales@kineticdc.com
http://www.facebook.com/kineticdc
#kineticdc @kineticdc
Posted in Die Casting Company
Tagged Business, Die Casting Company, Kinetic Die Casting Company, Manufacturing
3 Comments
Alloy Die Casting Company Buena Park California Sold
Alloy Die Casting Company located in Buena Park California has Sold – MCLEAN, Va., Oct. 3, 2013 /PRNewswire/ — Gladstone Investment Corporation (NASDAQ: GAIN) (“Gladstone Investment”) announces today that on October 1, 2013, it invested $16.3 million in a combination of debt and equity to purchase Alloy Die Casting Co. (“ADC”). Gladstone Investment’s affiliated company, Gladstone Capital Corporation (NASDAQ: GLAD) participated as a co-investor by providing $7.0 million of debt and equity financing on the same terms as Gladstone Investment in support of the acquisition.
Alloy Die Casting Company was founded in 1946 and headquartered in Buena Park, CA, ADC is a manufacturer of high quality, finished aluminum and zinc castings for aerospace, defense, aftermarket automotive and industrial applications. ADC provides its customers with engineering support and custom tool design and fabrication as well as in-house machining and finishing capabilities.
“Gladstone Investment is excited to partner with ADC’s talented and experienced management team. We look forward to the continued growth of the business and building upon the success of the management team over the past few years,” said Greg Bowie, a Director, Private Finance, of Gladstone Management Corporation, Gladstone Investment’s affiliated investment adviser.
Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Gladstone Investment has paid 99 consecutive monthly cash distributions on its common stock. Additional information on this transaction can be found at www.gladstonecompanies.com.
(source: http://online.wsj.com/article/PR-CO-20131003-906560.html)
According to a news release from Gladstone Investment Corp., Alloy Die Casting in Buena Park has been purchased by Gladstone for $16.3 million in combined debt and equity.
“Gladstone Investment is excited to partner with ADC’s talented and experienced management team. We look forward to the continued growth of the business and building upon the success of the management team over the past few years,” said Greg Bowie, a Director, Private Finance, of Gladstone Management Corporation, Gladstone Investment’s affiliated investment adviser.
Gladstone Investment, located at 1521 Westbranch Drive, Suite 200, in McLean, Virginia, is one of four affiliated investment companies. Gladstone Commercial Corporation, Gladstone Capital Corporation, and Gladstone Land Corporation are the other three.
Gladstone Capital Corporation participated as a co-investor in the purchase of Alloy Die Casting.
Alloy Die Casting Company is located at 6550 Caballero Blvd. in Buena Park. It was formerly operated by Sanders Industries in Long Beach as its only casting subsidiary. With the sale of Alloy Die Casting to Gladstone, Sanders will operate five polymer subsidiaries: Rubbercraft® Corporation of California, based in Long Beach; Northern Engineering (Sheffield) Ltd., based in Sheffield, England; Creavey Seal Company, based in Olyphant, Pennsylvania; Sanders Composites Inc., based in San Diego; and Fabritech Inc., based in West Chester, Pennsylvania.
Alloy Die Casting has been manufacturing complex die castings using aluminum, zinc, and zinc/aluminum alloys since 1946. In October of 2010, the company acquired Los Angeles Die Casting, a manufacturer of die cast products for industrial and aerospace applications, and consolidated operations in their Buena Park headquarters.
(source: http://www.oc-breeze.com/2013/10/05/39932_buena-parks-alloy-die-casting-sold-to-virginia-based-investment-company/)
Kinetic Die Casting Company
Kinetic Die Casting Company wishes to say “GOOD LUCK” and hopes the employees and staff of Alloy Die Casting Company success in continuing die casting operations in the Buena Park, California location. When Delmar Die Casting Company sold, the buyer moved all manufacturing operations to another state. Should things change for the ADC employees or staff, please remember Kinetic Die Casting when you are looking for your future.
Kinetic Die Casting Company (https://www.kineticdiecasting.com)
6918 Beck Avenue
North Hollywood, California 91605
818-982-9200
sales@kineticdc.com
#kineticdc @kineticdc
Posted in Die Casting Company
Tagged Business, Die Casting Company, Kinetic Die Casting Company, Manufacturing
12 Comments
Die Casting Company
Die Casting Company. Die casting is typically engaged by manufacturers to speed up production process. Production of die casting tools is essential to mass produce cylinder heads and engine blocks in the automobile industry, parts for medical devices or tiny sewing machine parts.
To create extremely dependable products at the most inexpensive way possible, it is vital that you decide the best die casting company to construct your tool for you. There are toolmakers that use less steel thus compromising the durability of the machine’s life.
Die casting method is one difficult job. It takes on a complicated and tough labour. Despite this, manufacturers still favour this procedure as it produces rapid production rates and gives various other benefits. Therefore, it is important to only acquire die casts from dependable die casting company. The excellence of the finish products it will turn out should never be compromised.
Choose a die casting company that has a standing for delivering machines that doesn’t corrode simply due to melted metal or repetitive use. Decide on the one that can offer the best tooling life possible, research on the die casting company’s knowledge and understanding on how to mold tools.
If you are new in the industry, references from friends will help. But, as always, information on die casting companies is available online. Evaluate prices and get in touch with any of them. Ask for prototypes, if possible, to test the reliability of their die casting tools.
Selecting the right die casting company determines the quality of the finish product as well as the life of the machine. If you can locate a company that can deliver both, you can more profit for your company.
Kinetic Die Casting manufactures die casting metal parts creating products like roofing tile molds, lighting parts, and military parts. If you would like more information about Kinetic Die Casting, visit our website:Kinetic Die Casting Company
Why Die Casting Companies Are Important
Why Die Casting Companies Are Important. Die casting entails shaping molten metal or a range of alloys into mold cavities, which are then turned into dies. Metals such as zinc, copper, lead, tin, magnesium and their relevant alloys are the kinds of materials frequently used by a die casting company. In the metalworking industry, die casting companies persist to thrive because of the endless high demand for parts. The purpose of die casting is to ultimately be able to mass-produce copies and copies of little, finely detailed parts through a time-saving, easy and non-costly fashion.
A die casting company can focus on either the real die casting of metals or precise procedures. Some companies, for instance, choose to center their trade on the die casting of aluminum, which is one of the most general metals in the planet and thus it is effortlessly gotten and very beneficial. Other companies have decided instead on the precursors or methods following die casting, such as polishing, buffing, painting or plating. Either way, each die casting company is diverse from another and has a different focus, utilizing a different approach.
It is eventually the job of die casting companies to offer parts that make up many of the tools, structures, machines and devices utilized today. Die cast materials can be found nearly everywhere, in any home and in any surroundings. They can be the spoons utilized to eat, or the tube for the faucets. They can make up glorious buildings or one’s very own personal computer. Without die casting companies, life wouldn’t be pleasant as it is now.
Kinetic Die Casting is a california die casting companycalifornia die casting company that manufactures die cast parts. If you would like more information or request a quote, vist our website:Kinetic Die Casting Company
