INDUSTRY NEWS
KPS Capital Partners Completes Waupaca Recapitalization KPS Capital Partners LP (KPS), New York, announced the
completion of its portfolio company Waupaca Foundry Inc.’s successful recapitalization. Following a $200 million upsizing of the company’s term loan, the proceeds were used to fund a $200 million cash distribution to stockholders. Following the recapitalization, the Waupaca, Wis.-based
gray and ductile iron casting producer remains conservatively capitalized and will have the continued support of KPS, its majority shareholder, to pursue continuous improvement and growth initiatives. KPS is a private equity firm with $2.5 bil- lion of assets under management. “Waupaca is now a thriving independent company under
KPS’ ownership, and we are pleased to return capital to our stockholders. Tis recapitalization validates the successful transformation of Waupaca that was achieved in a short period of time. Our conservative capital structure and the financial sup- port of our stockholders provide us with the resources to support our customers and grow aggressively, organically and through acquisitions,” said Gary Gigante, Waupaca Foundry CEO. Financing for the transaction was provided by a syndicate of banks and institutional investors with GE Capital Markets, Inc. acting as Lead Arranger. RBC Capital Markets acted as special advisor to KPS.
Superior Industries Plans New Plant in Mexico
Alloy wheel supplier Superior Industries International
Inc., Van Nuys, Calif., reportedly plans to build a $125 million plant in Mexico to help boost its North Ameri- can business. CEO Steven Borick told Crain Communications the
company is planning to build a factory capable of making 2 million to 2.5 million wheels a year, beginning in two years. The firm also is reported to have plans for improv- ing operations in the U.S. and Mexico.
NEWSCAST Several Grede Holdings, Southfield, Mich., metalcast-
ing facilities in Mexico will use the B&L Information Systems, Bridgman, Mich., Odyssey Software as a Service (SaaS) product. Novocast, producer of high quality ductile castings for the transportation and industrial markets, and Teknik, maker of gray ductile high quality iron castings, will use it to support their business operations. Empire Systems Inc., Avon Lake, Ohio, and Clans-
man Dynamics Ltd., Scotland, have announced a new sales partnership in the United States. Clansman Dynamics is known globally for its manipulators and robots, along with grinding, cutting and feeder separa- tion cannons. Empire Systems provides flasks, molding machines and material handling systems including their Super-Conveyor. Aluminum heat treater Alfe Heat Treating, Saginaw, Mich.,
has closed a deal with a major automotive manufacturer to heat treat V6 engines at its Saginaw operations plant. Te long-term project will start in late 2014 using Alfe’s existing facility and equipment. Te company plans to expand its workforce at that time, as it increases capacity for the new engine. Cutting systems manufacturer Hypertherm, Lebanon,
N.H., has opened a new LEED-designed, 160,000-sq.-ft. production facility in Lebanon, New Hampshire. Dynacast International, Elgin, Ill., is adding metal
injection molding (MIM) to its diecasting and injected metal assembly service offerings. Tis expands its ability to produce small, complex components using a wider variety of metals. Railroad products manufacturer McConway & Torley
LLC will close its 144-year-old Kutztown, Pa., plant and lay off 130 workers on May 5, according to a filing with the state Department of Labor & Industry. Te company is owned by Trinity Industries Inc., Dallas, Texas.
QUALITY CERTIFICATIONS
Rassini Fresnos S.A. de C. V., Puebla, Mexico, has ob- tained the Occupational Safety & Health Administration’s 18001:2007 certification through international firm ABS Quality Evaluations, Houston.
12 | MODERN CASTING April 2013
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