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Superior Industries Buys Part of India-Based Wheel Caster
Superior Industries International Inc., Van Nuys, Calif., announced it has acquired an equity interest in aluminum wheel diecaster Synergies Castings Ltd., Visakhapatnam, India. Superior said it has purchased 8.7% of the outstanding
shares of the privately-owned company and entered into an agreement to make additional equity investments in Synergies up to approximately 26% of its total issued equity by Dec. 31. “We believe this is an excellent long-term investment op-
portunity, given the dynamic and growing automotive mar- ket in India,” said Steven Borick, Superior’s chairman, chief executive officer and president. “Synergies is an accredited OEM aluminum wheel manufacturer.” Synergies uses low pressure permanent mold casting and
copper-nickel-chrome electroplating technology to manufac- ture and finish aluminum alloy wheels and other cast com- ponents. Superior supplies cast and forged aluminum wheels to a number of major auto makers.
METAL
McWane Inc. Resolves Issues With Environmental Protection Agency
McWane Inc., Birmingham, Ala., announced it has resolved
100% of its past environmental issues and is committed to improving its record going forward. According to a release issued by McWane, which operates
13 metalcasting facilities, the U.S. Environmental Protection Agency (EPA), U.S. Department of Justice (DOJ) and states of Alabama and Iowa have reached an agreement with the company for resolution of its past environmental issues. “In 2004, we proposed to EPA and DOJ a transparent and innovative framework for the resolution of past civil compli- ance issues at our company,” said McWane President Ruffner Page Jr. “DOJ and EPA accepted our proposed framework, and today we are pleased to announce the success of our efforts.” Page said the agreement will include a comprehensive settlement of all outstanding historical civil environmental enforcement matters at 28 plants. According to the executive, McWane agreed to turn prior environmental audits over to a third party mediator. “The mediator reviewed the audit results and recom-
mended appropriate resolutions of the issues,” Page said. “These recommendations, together with issues identified by EPA and participating state environmental agencies, provided the foundation for negotiating the final settlement.” According to the McWane statement, DOJ and EPA gave the
company the maximum cooperation discount possible under statutory guidelines in reaching the final penalty figure. McWane has agreed to implement several supplemental environmental projects as part of the settlement. The agreement also requires that McWane continue to operate and improve its environmental management system to ensure ongoing compliance. McWane is a manufacturer of ductile iron pipe, valves, hydrants
and fittings. The company employs 4,200 in 25 manufacturing plants, including 13 ferrous casting facilities.
METAL September/OctOber 2010 FOr DeSign engineerS & purchaSerS 15
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