INDUSTRY NEWS
Speyside Equity Buys Pacific Steel Private company Speyside Equity
has purchased Pacific Steel, West Berkeley, Calif. Te Daily Californian reports the $11.3 million transaction followed the firm’s bid in June, on the heels of the metalcaster’s bankruptcy filing in March. Family-owned Pacific Steel em-
ploys 400 people and is not expected to cease operations or make major changes, according to company spokesperson Elisabeth Jewel. “Everybody is very relieved that the
company will stay open and continue to operate,” Jewel said. “Tese are great jobs. Tey’re union jobs that pay well, and we don’t want those jobs to go away. We certainly don’t want them to go overseas.” Tough its purchase has been completed, she said Pacific Steel will be officially under new ownership in a few months.
Spartan Expands in Missouri
Spartan Light Metal Products plant manager Ted Waltemate and CEO Donald Jubel recently broke ground on an $8 million, 58,000-sq.- ft. expansion project in Mexico, Mo. Dieccasting, machining and assembly will all take place in the new facility. It also will allow for larger machines to produce more complex, larger parts for Spartan’s customers. Spartan is expanding and improv- ing employee facilities including
break and locker rooms, the lunch room, lab and office space. Te expansion is largely credited to
growth with Toyota as a customer. Te new facility will be used to manufacture parts for Toyota beginning in 2017. Jubel reportedly predicts an ap-
proximate 50% growth in the near future, due to regains in the auto industry following the financial crisis of 2008. Spartan already has surpassed its prerecession revenue figures.
Evans Industries Purchases Meloon Foundries
Detroit-based private equity firm Evans Industries Inc. has purchased the assets of Meloon Foundries Inc., Syra- cuse, N.Y. Evans Industries owns other metalcasting operations in the United States, including Auburn, Ind.-based Ball Brass & Aluminum Foundry Inc.
Meloon produces aluminum and copper-based castings for a variety of customers. It uses the nobake and green sand processes, as well as providing pat- ternmaking and finishing. Its products are up to 93 x 93 in. in size, with weights ranging from ounces to 1,000 lbs.
September 2014 MODERN CASTING | 11
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