Grede Holdings LLC has purchased GTL Precision Patterns for an undisclosed price, the company has announced. Grede operates 13 foundries and two machining facilities in six states. GTL, based in Biscoe, NC, will become the third machining facility in Grede’s portfolio.
“GTL has machined castings produced at our Biscoe foundry for many years, so now Biscoe becomes a full service cast and machine operation for our heavy truck and industrial customers,” said Doug Grimm, Grede chairman, president & CEO.
Thomas Schulte-Austum, owner of GTL, will remain with the company. All 66 employees will be retained as well.
GTL machines products for customers that include Daimler Truck North America, Volvo Trucks North America, Mack Trucks and Carrier Corp. among others. The facility will remain in Biscoe, adopting the Grede name.