WAUPACA FOUNDRY’S TIMELINE
as compared to its relationship with KPS because of the new ownership’s strategic location within the casting industry. Te metalcaster could benefit from joining a parent company with similar operations and capabilities. “Te amount of synergy between
Waupaca Foundry and Hitachi Metals has been incredible,” Gigante said. “Te new ownership allows us to plan for the long-term. It allows us to invest in the business, so you can look back 20 years from now and say that was the right thing to do.”
Building the Future Early this year, Waupaca Foundry
finalized its 2018 mid-term plan in close cooperation with its new parent company. Tis four-pronged plan represents the first formal strategy announcement with Hitachi Metals and its U.S.-based subsidiary, Hitachi Metals Automotive Components USA LLC (HMAC). Initiatives include converting one plant to 100% ductile iron produc-
1955: Waupaca Foundry Opens 1969: Budd Company Purchases Waupaca Foundry 1978: Thyssen Purchases Budd Company 1999: Thyssen merges with German steelmaker Krupp, forming ThyssenKrupp 2007: Waupaca Foundry Directly Reports to ThyssenKrupp After Sale of Budd Co.
2011: ThyssenKrupp Announces Plans to Sell Waupaca Foundry 2012: KPS Capital Partners Purchases Waupaca Foundry 2014: Hitachi Metals Ltd. Purchases Waupaca Foundry 2016: Hitachi Metals Automotive Components USA merges with Waupaca Foundry
tion from a current even mix of gray and ductile iron, installing a horizon- tal molding line at another facility, increasing machining capabilities through acquisition or partnership and, finally, exploring a Mexico-based casting facility. At the time of the 2014 acquisi-
tion, Waupaca Foundry management understood the potential synergies and inherent advantages related to an ownership group with a heavy interest in metalcasting. “Te question I get most often is,
‘Why did Hitachi Metals buy us?’” Gigante said. “Now that they’ve owned the company for a year, it’s obvious they intend to grow it. Tat’s why they are investing in us. … Te other thing is our customers see [these investments] as steps in the right direction.”
Increasing Capacity for Ductile Iron
Te first initiative of Waupaca
Foundry’s latest plan is rather straight- forward. Plant 6, a 387,000 sq.-ft.
One vertical molding line in Tell City, Indiana, will be removed to add horizontal capabilities. April 2016 MODERN CASTING | 21
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