INDUSTRY NEWS
Hitachi Metals to Purchase Waupaca Foundry Ductile and gray iron casting producer
Waupaca Foundry Inc., Waupaca, Wis., announced Hitachi Metals Ltd., Tokyo, 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 re- ports production capacity has expanded at all six plants, business has steadily increased, and more than 200 new jobs have been added since 2012. “Tis 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,”
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 op- portunities for our employees, custom- ers and suppliers, and we anticipate a seamless transition.” Waupaca Foundry employs approx-
Waupaca is known for innovative applications such as this vertical green sand mold for a gray iron engine bedplate.
said Gary Gigante, president and CEO, Waupaca Foundry. “Partnering with Hitachi Metals will bring Waupaca Foundry significant global strength that
imately 3,900 people and has foundry operations in three states, serving customers in the automotive, com- mercial truck, agriculture, construction and other industrial markets. Hitachi Metals was founded in 1910 as the Tobata Foundry. It has a strong tradition in iron casting produc- tion, metal technology and machining services, and operates foundries in the United States, Japan, Korea and India. Te closing of the sale is expected in the fourth quarter of 2014.
10 | MODERN CASTING September 2014
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