Aluminum Housing Castings or Aluminum Diecast Boxes are electrically conductive and can be easily be electrically grounded. Aluminum box enclosures can be manufactured with the mounting holes necessary for set up circuit boards and covers or lids to the enclosures …
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Tag Archives: Pace
386 Jobless, Two Die Casting Companies Ready to Close
Pace Industries, Quad City suffering from weak consumer demand. Two more nonferrous diecasting plants are set to close in the coming weeks, and in both cases the shutdowns are attributed to the overall weak economic conditions. Aluminum diecasting was among the first industrial market segments to feel the effects of the automotive industry’s sharp decline in 2008. Lately, plants that supply diecastings to general industrial, commercial, and consumer markets are feeling the effects of generally weak demand.
Pace Industries will close its Monroe City, MO, plant in July, following a notice to employees earlier this month. The plant is one of 19 operations for the company, which produces machined and finished diecastings and assemblies to manufacturers of automobiles, appliances, and commercial and consumer products.
Last year Leggett & Platt Inc. sold Pace to Kenner Industries and a team of company managers. Kenner had owned the group until it sold Pace to Leggett & Platt in 1996. Reportedly, Pace Industries has endured a 30-50% decline in sales revenue in recent earnings periods.
The Monroe City plant produces aluminum and zinc diecastings, and employs 147 workers and 39 managers and clerical staff.
Quad City Die Casting Co. will close its Moline, IL, plant in July, another move attributed to depressed market demand. It produces aluminum, magnesium, and zinc diecastings, largely for products American Kawasaki Motorcycle Corp., but also for other automotive, industrial, and consumer buyers.
About 100 workers will be affected at Moline. The holding company, QuadCast Inc., also operates Davenport White Metal in Davenport, IA, and Red Oak Casting in Red Oak, IA.
That could mean 386 people out of work.
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Pace Die Casting Company in Monroe City Mo to Close
MONROE CITY, Mo. The doors to the Pace Die Casting plant in Monroe City will officially close in July leaving the company’s employees, and the town of Monroe City with serious questions about the future.
“Everybody’s kind of in shock,” said Angie Griggs.
It’s been less than a month since Angie Griggs was laid off from her job at Pace Die Casting and after hearing the news of the plants upcoming summer shut down, she says reality is setting in.
“I’m stunned that it’s happened. I never thought I’d see that plant close. I know both plants in Monroe City Intermet Die Casting and Pace Die Casting have been struggling, but I never thought it would come to this,” said Griggs.
City Administrator Jim Burns says things might get worse before they get better as another business in town fights financial struggles.
“Intermet Die Casting is in the bankruptcy process and they just last week got an auction procedure approved by the bankruptcy court. They’re looking for someone to buy the whole company,” said Burns.
While Burns knows the struggling automotive industry is to blame for problems at Pace Die Casting and Intermet Die Casting, he’s hopeful the town can bounce back.
“We know we have good labor in town a lot of dependable, reliable workers and hopefully we’ll be able to find someone who can use those workers,” included Burns.
For Angie Griggs and other residents who will soon be jobless, it’s hard to look forward to the future when the present is so devastating.
“The worst thing will be people losing their houses, their cars, their way of life,” said Griggs. WGEM
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Pace Die Casting Company Sold
An aluminum die-casting firm bought by a publicly traded company in 1996 has returned to private hands under its former name, Pace Industries Inc. Leggett & Platt Inc. said today that it had sold its aluminum die-casting unit to its management and Kenner & Company Inc., a New York-based private equity firm that was the former owner of Pace. Pace will maintain its headquarters at Fayetteville. The company has 19 manufacturing sites in 14 cities in the U.S. and Mexico, and is the largest privately owned custom non-automotive die-casting company in North America. Scott Bull, chief executive officer of Pace, said he and other executives would begin a seven-day tour Friday of the company’s sites to meet with plant managers, employees, media and local community leaders.
Leggett & Platt Inc. acquired Pace from Kenner & Co. in 1996. The locations included in the transaction are at Loyalhanna, Pa.; Auburn, Ala.; St. Paul and Maple Lake, Minn.; Harrison and Jonesboro, Ark.; Chelmsford and North Billerica, Mass.; Dover, N.H.; Grafton and Oconto, Wis.; Monroe City, Mo.; and Saltillo and Chihuahua, Mexico.
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