INDUSTRY news
New York CEO Announces Run for Congress
Diana Kastenbaum, the CEO of
Pinnacle Manufacturing Company Inc., Batavia, New York, has an- nounced she is running for Congress as a Democrat in New York’s 27th district. “As a small business owner from
Batavia, I am well aware of the re- alities that face middle-class fami- lies. Using my years of experience as a businesswoman, I will bring new ideas and solutions to the problems we face in Western New York,” Kas- tenbaum said in a news release.” Pinnacle is a zinc and aluminum
die casting manufacturing company. Chris Collins, a Republican, is the district’s incumbent ■
Precision Die Casting Acquired by Rane (Madras)
Precision Die Casting Inc., Rus-
sellville, Kentucky, has reportedly been acquired by Rane (Madras) Limited, Chennai, India. The deal is worth a reported
$8.9 million, and Rane (Madras) is expected to invest $2 million in improvements to help profitability and production. T e agreement is expected to close
prior to the end of March 2016. Rane (Madras) is expecting to purchase 100% of the equity shares of Precision Die Casting. Precision Die Casting has more than 200 employees that work in its 255,000-sq.-ft. facility. T e facility was built in 1956. Precision Die Casting produces
high volume, pressure tight, thin wall, low porosity, cast and ma- chined aluminum die castings. Dur- ing the 1980s, Precision Die Casting also did custom programs for the automotive industry. Rane (Madras) is part of the Rane
Group. Rane is an OEM and supplier for the automotive industry in India and elsewhere. ■
Mar/Apr 2016 | METAL CASTING DESIGN & PURCHASING | 11
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