The report, “Winning the Race: How America Can Lead the Global Clean Energy Economy,” released by the Apollo Alliance and Good Jobs First, stressed that this strategy would avoid indirectly subsidizing the growth of clean energy activities in low-wage countries …
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Category Archives: Die Casting Company
AE Light Metal Casting filed bankruptcy
By Jennifer Serda – A LaGrange plant is going out of business
AE Light Metal Casting filed bankruptcy earlier this month and says they expect to close the LaGrange plant at the end of May.
Currently 33 people work at the plant but at its peek, it employed 100 people. The plant had expected to employ 295 workers but says demand for their products had forced layoffs.
AE Light Metal Casting makes aluminum casting for auto industry.
The LaGrange Development Authority owns the building AE Light Metal Casting is in and says they are showing the building to another company.
AE Light Metal Casting did not supply any products to the KIA plant in West Point.
Kinetic Die Casting manufactures custom metal parts to their customer. If you would like more information about Kinetic Die Casting, please visit our website:Kinetic Die Casting Company
Compass Automotive Group Acquires Aluminum Die Casting and Machining Business from Citation Corporation
FRANKLIN, Ind.–(BUSINESS WIRE)–Compass Automotive Group, Inc, a leading provider of aluminum and magnesium component solutions to car makers and Tier I automotive suppliers, today announced that it has acquired the aluminum die casting and machining operations of Citation Corporation (“Citation”), a full-service supplier of metal components to the transportation and industrial industries. Compass will absorb the Citation business, located in Grand Rapids and Lowell, Michigan, into its current die cast operations, which produce highly engineered aluminum and magnesium components utilized in steering, engine, and safety systems for nearly every automaker in North America. Terms of the transaction were not disclosed.
Compass, a portfolio company of Monomoy Capital Partners, L.P., operates a broad automotive platform that manufactures safety-critical aluminum and magnesium automotive components utilizing high pressure die casting, squeeze casting, and a proprietary VRC/PRC casting process. Compass’s principal customers include Asian, European, and North American OEM’s, as well as major Tier 1 suppliers.
“With efficient casting equipment and in-house machining capability, Citation’s operations are a great complement to the Compass platform,” said Jim Squatrito, CEO of Compass Automotive Group. “Despite its current turmoil, the auto industry is here to stay, and Compass will continue to seek additional market share and assets as the automotive supply chain continues to consolidate. The acquisition of these Citation facilities extends our operations into machining and greatly expands our offering of high-quality and cost-effective components to the industry.”
“The Citation acquisition is an important further step in building a strong Monomoy platform in the safety critical automotive components manufacturing space,” said Justin Hillenbrand, a Monomoy partner. “The Grand Rapids and Lowell facilities are valuable assets that will strengthen Compass in the short term and position the Company to grow as the economy stabilizes. Compass remains a financially stable business in a very difficult industry, and Monomoy continues to review a compelling set of acquisition opportunities in the automotive supply chain that can add value and breadth to the Compass business platform.”
About Compass Automotive Group, LLC
Compass Automotive Group, LLC is a leading provider of engineered component solutions to OEM’s and Tier I automotive suppliers. It was formed in July 2007 by Monomoy Capital Partners, L.P. to consolidate safety critical component manufacturers in the automotive supply chain. Compass is the corporate parent of Casting Technologies Company, a casting manufacturer utilizing proprietary squeeze casting and VRC/PRC processes to produce safety critical, premium grade aluminum suspension components, cross-members and compressor scrolls; Magnesium Aluminum Corporation, a die cast manufacturer of aluminum and magnesium steering wheels, steering components, and airbag enclosures; and SRC, the leading North American manufacturer of magnesium flux, a refining agent used in the production of industrial aluminum and magnesium. Compass employs more than 600 team members in Detroit and Fruitport, Michigan; Franklin, Indiana; Cleveland, Ohio; Matamoras and Chihuahua, Mexico; and produces parts for cars, motorcycles and light trucks sold in North America, Europe and Asia.
About Monomoy Capital Partners, L.P.
Monomoy Capital Partners, L.P. is a $280 million private equity fund that makes controlling investments in middle market companies that require operational or financial restructuring. Monomoy targets fundamentally sound businesses with revenues of less than $300 million and acquires businesses through bankruptcy proceedings, out-of-court restructurings, corporate divestitures and other complex transactions. The Fund has completed 21 transactions over the past 36 months in the smaller end of the middle market and currently owns 11 platform business that collectively employ more than 9,000 people. For additional information on Monomoy and its portfolio companies, please visit www.mcpfunds.com.
Kinetic Die Casting Company can manufacture aluminum car parts, aluminum hardware, and Aluminum Lighting Partsaluminum lighting parts
Contech may sell 6 Diecasting Plants to Revstone
The US federal bankruptcy court overseeing the reorganization of Contech LLC. is studying a petition to sell the group’s six metalcasting operations to a private-equity group, Revstone Industries LLC.
According to reports, Revstone has offered a reported US$14 million for the operations. The offer is the only bid exceeding the plants’ liquidation value.
Since March, Michigan-based Contech LLC has been seeking for buyers for its six diecasting plants in the country. It filed for bankruptcy protection in January in Detroit after it had been acquired in 2007 by Marathon Asset Management LLC. It produces and machines aluminum and magnesium diecastings, steel forgings, and fabricates tubular steel products and has nine US plants. The six casting facilities are in Michigan, Indiana and Tennessee.
Contech also is looking to divest Contech Operating UK Ltd, in Welshpool, Wales, to Hicorp Ltd for about US$4 million. The Chapter 11 bankruptcy filing does not cover Contech UK.
Kinetic Die Casting manufactures aluminum military parts, aluminum hardware, and aluminum die castings. Visit our website for a quote: Kinetic Die Casting Company
Metaldyne Takes Further Restructuring Actions
Plymouth, MI – Metaldyne Corp., took several actions in 2008 to reduce structural costs, balance capacity with declining vehicle production and create a more agile and streamlined organization focused on its core product lines. These actions will help the company deliver its Plan to Win, which is aimed at creating value for Metaldyne stakeholders.
Metaldyne will further rationalize its headquarters operations in Plymouth. Since January 2008, the company has significantly reduced its headquarters staff. In addition, Metaldyne eliminated a separate leased facility, which housed its North American Chassis Products business unit, and consolidated that operation into another Metaldyne building in Plymouth. It will now further consolidate its operations in Plymouth by merging its headquarters facility into that same building. The move is expected to be completed by mid-2009.
“With this move, we will have rationalized from three headquarters facilities in Plymouth to one facility, which not only saves expenses but better streamlines how we will operate as a company,” said, Metaldyne chairman and CEO and co-CEO of Asahi Tec Thomas A. Amato. “This is another step in our plan to focus our resources on our manufacturing operations, processes and product technologies.”
Submitted by Metaldyne Jan. 8
Kinetic Die Casting is a Los Angeles die casting company that manufactures aluminum and zinc parts. If you would like more information, please visit our website:Kinetic Die Casting Company
Coast Die Casting update
Coast Die Casting sold their business operations to Kinetic Die Casting Company on June 3rd, 2009. In the last few weeks, Kinetic Die Casting Company has supplied parts to many of the former Coast Die Casting Company customers.
All of the former Coast Die Casting customers are very happy with the change in services and quality of the die casting parts. If you were a Coast Die Casting Customer searching for your tooling, give Kinetic Die Casting Company a call 800-524-8083.
Kinetic Die Casting manufactures products like aluminum hardware, and aluminum boxes. If you would like more information on Kinetic Die Casting, please visit our website:Kinetic Die Casting Company
