The Backbone of Precision Manufacturing. Die casting is a versatile manufacturing process that has become indispensable across various industries, from automotive to electronics and beyond. Central to the efficiency and precision of die casting is the tooling. Die casting tooling, …
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Category Archives: Die Casting Company
Premier Lakewood Die Casting Plant Closure
Premier Lakewood Inc. Plant To Close In May
Economy Cited As Reason; 75 Workers Affected
February 11, 2014
By Mallory Diefenbach (mdiefenbach@post-journal.com) , The Post-Journal
LAKEWOOD- Premier Lakewood Inc., a Michigan-owned company located on 201 Winchester Road in Lakewood, will be closing its doors on May 6, displacing 75 employees.
According to a Worker Adjustment and Retraining Notification from the New York state Department of Labor, layoffs will begin on May 1 and continue through May 6. Economic reasons have been cited for the closure. Calls made to the plant on Monday were not returned.
According to a Post-Journal article from 2006, the plant has been in Lakewood since 1946. Premier Lakewood Inc. purchased the company from Lexington Die Casting in 2005. Lexington Die Casting, which had owned the plant since 1992, set to close the factory for good, leaving their remaining 45 employees out of luck. However, due to a collaborative effort between the previous owners, local development leaders and New York state officials, the jobs and factory alike were saved.
In the same 2006 Post-Journal article, Paul Brancaleon, president of the Michigan-based Premier Tool and Die Cast Corporation – which the Lakewood branch is a part of, went on record speaking of tripling Lakewood operations and stepping up production five-fold over the next three years.
Premier Lakewood takes in hundreds of tons of recycled aluminum every month, melts it down and channels it through dozen of die casters. This is then shaped into strong, light-weight parts, half for automobiles and half for other commodities.
(citation) http://post-journal.com/page/content.detail/id/635354/Premier–Lakewood-Inc–Plant-To–Close-In-May.html?nav=5192
It is sad to me to see another US Die Casting Manufacturing Company close their doors. I feel sorry for the 75 displaced workers in New York. I hope they will be able to find comparable work locally. We are experiencing growth in southern California. We wish you all the best luck for the workers and owners of Premier Die Casting Company for the future.
Kinetic Die Casting Company (www.kineticdiecasting.com)
6918 Beck Avenue
North Hollywood,
California USA 91605
Phone Number: 818-982-9200
Toll Free: 800-524-8083
Fax Number: 818-982-0877
Email: sales@kineticdc.com
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
Kinetic Facebook
#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
