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Hitachi Metals to Purchase Waupaca Foundry-压铸展-铸造展-2015第十六届广州国际压铸、铸造及工业炉展览会-中国最受关注的压铸铸造展会-巨浪展览-The 16th Guangzhou Die-casting, Foundry & Industry Furnace Exhibition
8/27/2014 压铸展-铸造展- Die-casting expo-foundry expo |
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Ductile and gray iron casting producer Waupaca Foundry Inc., Waupaca, Wis., announced Hitachi Metals Ltd. has signed an agreement to acquire the company from its current owner.
Since purchasing Waupaca Foundry in June 2012, KPS Capital Partners LP (KPS), a New York-based private equity firm, has supported continued operational improvement and capital investment into the company. As a direct result of its support, Waupaca reports production capacity has expanded at all six foundries, business has steadily increased, and more than 200 new jobs have been added since 2012.
“This investment by Hitachi Metals in Waupaca Foundry’s world-class facilities and capabilities is a validation of what we have accomplished over the past two years and signals a strong commitment to manufacturing and the foundry industry in the United States,” said Gary Gigante, president and CEO, Waupaca Foundry. “Partnering with Hitachi Metals will bring Waupaca Foundry significant global strength that will help us drive continued expansion. We share Hitachi’s vision for the future of our business in the United States and its many growth opportunities in global markets. Our new partnership with Hitachi Metals will present great opportunities for our employees, customers and suppliers, and we anticipate a seamless transition.”
Waupaca Foundry employs approximately 3,900 people and has foundry operations in three states, serving customers in the automotive, commercial truck, agriculture, construction and other industrial markets.
Hitachi Metals, headquartered in Japan, was founded in 1910 as the Tobata Foundry. It has a strong tradition in iron casting production, metal technology and machining services, and operates foundries the United States, Japan, Korea and India.
The closing of the sale is expected in the fourth quarter of 2014.
-压铸展-铸造展-2015第十六届广州国际压铸、铸造及工业炉展览会-中国最受关注的压铸铸造展会-巨浪展览-The 16th Guangzhou
Die-casting, Foundry & Industry Furnace Exhibition
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