INDUSTRY news
Revstone: New Financing to Create Diecasting Jobs Revstone Transportation, a division
of Revstone Industries LLC, Detroit, announced it expects to launch new aluminum diecasting programs under a reorganized fi nancial structure. T e company, which maintains
several metalcasting facilities, said it has closed a new fi nancing package with
funds managed by Icon Capital Corp. According to Revstone CEO Kevin Cramton, the fi nancing will be used to fund new products and business. Revstone operates diecasting
facilities in Chihuahua, Mexico, Portage, Mich., and Burlington, Ontario, Canada. T e company also has several
ferrous casting facilities in its portfolio. Most of its metalcasting assets have been acquired in the last three years. “T e companies within the Revstone
Transportation group are key suppliers... and we are excited by the group’s growth prospects,” said Marcelo Sarago, senior director with Icon.
Aluminum Castings Doubling Production With Expansion Aluminum Castings Corp.,
Galesburg, Ill., announced it will add 11,500 sq. ft. to its green sand and nobake facility, doubling its production. T e expansion project, which is
currently underway, is expected to cost approximately $2 million and be completed by March 15.T e addition will lead to 16-26 new jobs over the next two years, according to a press release
issued by the city of Galesburg. “Aluminum Castings wanted to remain in Galesburg,” said Galesburg Mayor Sal Garza. “T e expansion signifi es that businesses in Galesburg are moving forward after meeting many challenges head-on.” Aluminum Castings currently
produces 70,000 lbs. (31,750 kg) of aluminum castings per month and expects to reach 140,000 lbs. (63,500
kg) following the expansion. President Bret Markum said the majority of the parts Aluminum Castings produces require complex internal coring. “We wanted to remain in Galesburg
because of the success we’ve had with our workforce here,” Markum said. “We don’t expect any surprises. We know what we have and are confi dent in the future success of the facility.”
Mar/Apr 2012 | METAL CASTING DESIGN & PURCHASING | 13
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