INDUSTRY news
Cast Corp. Doubles Footprint with Casting
Cast Corp., Hibbing, Minn, has expanded with a 20,000-sq.-ft. building for metalcasting and related operations. T e Hibbing Daily Tribune reports the company plans to expand its business with its existing customer base as well as acquire new customers and diversify. “Cast Corporation is excited about
this new venture, including the op- portunities and diversifi cation that it brings to the local community,” said CEO Tim Bungarden. “Additionally, the company looks forward to leverag- ing local resources and building on synergies with its historical operations.” T e nearly completed project repre- sents a $3.5 million investment in the building and equipment. With the addition of the metalcasting facility, the company estimates 16 employees will be needed initially and up to 30 as production demands dictate. T e 29-employee family business
has more than 17 years experience in machining, tooling and casting.
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. Diecasting, 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 offi ce space. T e expansion is largely credited
to growth with Toyota as a customer. T e new facility will be used to manufacture parts for Toyota begin- ning in 2017. T e Mexico Ledger reports Jubel said he expects Spartan to experience an approximate 50% growth in the near future, due to regains in the auto industry, following the fi nancial crisis of 2008. Spartan already has surpassed its prerecession revenue fi gures.
Sept/Oct 2014 | METAL CASTING DESIGN & PURCHASING | 9
Speyside Equity Buys Pacifi c Steel Private company Speyside Equity
has purchased Pacifi c Steel, West Berkeley, Calif. T e Daily Californian reports the $11.3 million transaction followed the fi rm’s bid in June, on the heels of the metalcaster’s bankruptcy fi ling 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. “T ese are great jobs. T ey’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.” T ough its purchase has been completed, she said Pacifi c Steel will be offi cially under new ownership in a few months.
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