The Advantages of Cast Aluminum Parts for Music over Plastic Parts. For serious musicians and the musical professionals in the music industry, having instruments that last longer, that sound extraordinarily good, and that are strong and sturdy is very important. …
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Category Archives: Die Casting Company
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
Aluminum Company Aleris International files for bankruptcy protection
Aleris International files for bankruptcy protection
Posted by Robert Schoenberger/Plain Dealer Reporter
BEACHWOOD — Beachwood-based aluminum company Aleris International filed for bankruptcy protection Thursday, saying the financial drain of the weak economy was too great.
“Even though this is a tough process to go through, it will clearly make us a stronger company,” Aleris Chairman and Chief Executive Steven Demetriou said during an interview late Thursday. The owner of the Erie BayHawks NBA D-League squad added that Aleris’ operations are not the problem. The company’s massive debt load is.
The company will continue operating during bankruptcy, although it has already idled several plants in Indiana and North Carolina.
Aleris said it has arranged for $1.1 billion in financing (a $500 million loan and a $575 million credit arrangement) to keep it operating through bankruptcy. That financing will let it continue to pay employees and run facilities as it restructures.
The bulk of the company’s debt comes from its rapid expansion since its formation less than five years ago.
Investors formed Aleris in 2004 by merging Kentucky’s Commonwealth Aluminum with Texas-based IMCO Recycling. In 2006, the company went private when the Texas Pacific Group bought it for $3.3 billion.
The Texas Pacific purchase was a leveraged buyout, meaning the company borrowed nearly all the money for the purchase. Demetriou said the $2.5 billion in debt raised in 2006 is the main reason the company had to file for bankruptcy protection.
“At the time we did the deal, the $2.5 billion of debt we had was the right amount,” Demetriou said. At the time, aluminum prices were high and climbing, and analysts expected prices to increase for years.
But over the past six months, aluminum prices have tumbled along with steel, oil and other commodities.
“With today’s operating environment, clearly the debt is unsupportable,” Demetriou said. He added that the company may need to take other restructuring steps but that the main focus will be financial.
In its filing with the U.S. Bankruptcy Court in Delaware, Aleris said it had assets worth about $4.9 billion and about $4.2 billion in debt.
Under Chapter 11 of the U.S. Bankruptcy Code, companies can stop paying creditors while they work out new payment schedules. Typically, the company’s creditors end up owning most or all of the restructured company.
In Ohio, Aleris has its Beachwood headquarters and an aluminum rolling mill in Uhrichsville. The company had another mill in Walton Hills, but it was closed last year.
Only two of the company’s 30 largest creditors are in Northeast Ohio, according to the court filings. Aleris said it owes about $1.5 million to Ferropem, a Medina sales office for a European silicon company. Aleris owes $840,486 to Metal Conversions Ltd., a Mansfield company that makes aluminum-processing equipment.
Aleris’ European, Asian, South American, Mexican and Canadian operations were not included in the filing.
ADDITIONAL NOTES ABOUT DIE CASTING COMPANY CLOSURES:
Coast Die Casting Company closed their doors for a final time July 3, 2009. Coast Die Casting Company sold their business operations to Kinetic Die Casting Company.
What is an Aluminum Die Casting Company?
What is an Aluminum Die Casting Company? Aluminum today is a commonly used metal alloy in a lot of products covering numerous industries. It is used in building automobiles, it is used in consumer electronics, and it is used in housing projects and many more. There are several ways to make use of this metal alloy. Manufacturers all over the world have chosen this metal for their products because it is cheap to obtain, it is a lightweight material yet it is very strong and durable. When it comes to their aluminum needs, manufacturers commonly go to an Aluminum Die Casting Company.
An Aluminum Die Casting Company provides a service to manufacturers of manipulating aluminum metals into the desired shape and size. In other words, these companies are responsible for taking a bar of aluminum alloy and turning them into various parts such as heat sinks, lighting fixtures, brackets and automotive parts. They do this through a process known as die casting wherein the aluminum bars are subjected to intense heating until they liquefy. The liquefied aluminum will next be poured into large metal casings known as castings or molds. The liquid metal would take the form of the casting and when it is cooled, the metal will harden into its former solid state no longer a bar, but the intended shape.
The service of an Aluminum Die Casting Company is very valuable to many manufacturers as they provide high quality material at low costs. This is especially helpful for those does not have access to the needed machinery to accomplish die casting.
Kinetic Die Casting manufactures aluminum die castings creating aluminum die casting boxes, aluminum handle hardware, and aerospace die casting. If you would like to get a quote, please visit our website: Kinetic Die Casting Company
Posted in Die Casting Company
Tagged Aluminum Die Casting Company, Diecasting Company
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