INDUSTRY NEWS
INDUSTRY NEWS Vermont Castings Management
Buys Business The management team of Vermont Castings Group
(VCG), Paris, Ky., has purchased the wood stove and hearth business from a private equity firm. The company has a metalcasting facility in Randolph, Vt. The owner- ship team consists of current and former employees, including new chairman and CEO Ricardo León, Pat Kelly, Jess Baldwin and Kirsten Jenkins. “The employees realized the best way for our busi- ness to succeed was to take back the control and play the leading role in driving the company’s strategic direction,” said León. “Over the coming weeks and months, we will refocus VCG on the hearth industry, and transition away from non-core activities.” The change in ownership reportedly will not affect the
Vermont operations or its approximately 120 employees. As part of the transaction, the company cancelled the majority of its debt. Vermont Castings Group is a supplier of hearth and
grill products throughout North and South America, Asia and Europe. Under its four brands, Vermont Cast- ings, Majestic, Monessen and Ambient Technologies, the company sells a line of products including wood-burning and electric fireplaces, inserts, log sets and stoves, as well as outdoor grills and heating products.
CORRECTIONS In the August 2013 article “Calculating Furnace ROI” on
page 25, it states “a well-designed, radiant roof-fired natural gas reverb furnace with 10% cold metal charging will melt ... at 33% efficiency.” It should have stated “100% cold metal charging.” Additionally, in the top caption on page 25, high headroom, gas-fired reverb furnaces are less efficient—not more—than low headroom furnaces.
In the August 2013 news item, “Eagle Alloy Sponsors
Metalcasting Mural” on page 14, the company was cited as being headquartered in Muskegon, Wis. Eagle Alloy is based in Muskegon, Mich.
12 | MODERN CASTING September 2013
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