Fairfield Castings Gets New Ownership
The facility laid off almost all of its 221 employees in late June when the previous owner entered foreclosure. Some assets were purchased in July by Faircast, and production restarted in July.
The facility laid off almost all of its 221 employees in late June when the previous owner entered foreclosure. Some assets were purchased in July by Faircast, and production restarted in July.
VanKirk, who was the CEO of Progressive Foundry, was a prominent member of his community.
The value of the contract amounts to a total of around $300 million over five years.
AB&I Foundry is a U.S. manufacturer of cast iron soil pipe and fittings for storm and sanitary plumbing systems.
The funds will help Dynacast fill 10 jobs within the next two years.
BENTELER Automotive Farsund’s casting business consists of a highly automated aluminum foundry in Farsund, Norway, designing and producing lightweight aluminum structural castings.
According to a news release, the company has laid the groundwork for employee ownership with an employee stock ownership program. By doing that, the company will assure the ownership is remaining local.
The initiative drew more than $1,300 in donations and collected 350 items. Boose Foundry will donate an additional $250 that will help feed 75 local families.
The company invested $110 million initially into the project and that could grow to almost $200 million with an expected expansion. The project could eventually add more than 300 jobs to the area.
ACP was presented the award on Oct. 30, and there was an onsite presentation from the state’s department of labor and industry on Nov. 15.