Grede completes acquisition of foundry

Nov. 3, 2011
Grede Holdings has completed the acquisition of Paxton-Mitchell Corp., an industrial foundry and machining facility in Omaha, NE

Grede Holdings has completed the acquisition of Paxton-Mitchell Corp., an industrial foundry and machining facility in Omaha, NE.

Grede said it has acquired the foundry and machining assets of the company. Terms were not disclosed.

The facility employs 75, Grede said, but expansion of the workforce is likely as additional work is transferred to Omaha from other Grede foundries. The facility will be called Grede Omaha.

“This latest acquisition represents Grede’s commitment to the industrial and heavy truck iron casting market,” said Doug Grimm, chairman, president & CEO of Grede Holdings LLC. “We have focused on diversifying our business model to weather cyclicality, and now 60% of our revenues are derived from non-automotive customers.”

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Reliable EV Charging Solution for Last-Mile Delivery Fleets

Selecting the right EV charging infrastructure and the right partner to best solve your needs are critical. Learn which solution PepsiCo is choosing to power their fleet and help...

Overcoming Common Roadblocks Associated with Fleet Electrification at Scale

Fleets in the United States, are increasingly transitioning from internal combustion engine vehicles to electric vehicles. While this shift presents challenges, there are strategies...

Report: The 2024 State of Heavy-Duty Repair

From capitalizing on the latest revenue trends to implementing strategic financial planning—this report serves as a roadmap for navigating the challenges and opportunities of ...

Fleet Industry Benchmarks: How does your fleet stack up?

Discover how your fleet compares to industry benchmarks and gain insights from a 2024 Benchmarking Report on maintenance spend, turnaround time, and more. Join us to identify ...