Grede Holdings LLC, Southfield, Mich., has completed the acquisition of the foundry and machining assets of Paxton-Mitchell Corp., an industrial foundry and machining facility in Omaha, Neb.
The facility will be called Grede Omaha LLC and, according to a Grede news release, it “strengthens Grede’s position in the heavy truck and industrial markets.”
The facility currently employs 75 people and is expected to expand in 2012 as additional business is transferred into Omaha from other Grede foundries, says the company.
“This latest acquisition represents Grede’s commitment to the industrial and heavy truck iron casting market,” says Doug Grimm, chairman, president and CEO of Grede Holdings. “We have focused on diversifying our business model to weather cyclicality, and now 60 percent of our revenues are derived from non-automotive customers.”
Grede Holdings LLC was formed in 2010 through the combination of assets of the former Grede Foundries Inc., Blackhawk Foundry (USA) and Citation Corp. The company specializes in ductile, gray and specialty iron castings and operates 16 foundries and four machining plants with 5,000 employees in North America.
The company consumes as much as 25,000 tons of ferrous scrap each month, according to a feature article profiling Grede in the April 2010 edition of Recycling Today.
Grede Adds to Foundry Roster
Former Paxton-Mitchell Omaha foundry now part of Grede Holdings LLC.