Waupaca Foundry Acquired By Hitachi Metals
Alignment Positions Iron Casting Supplier For Global Growth
(Waupaca, WI) Nov. 10, 2014—Waupaca Foundry, Inc. announced today the completion of its acquisition by Hitachi Metals. Waupaca Foundry, Inc. is the world’s largest producer of ductile iron and gray iron castings. Hitachi Metals is a world leader in material development and materials technology and has expanded to become a high-functional material provider serving a wide array of industries since its beginnings in 1910.
Waupaca Foundry will join Hitachi Metals’ High-Grade Functional Components Company. The post-merger integration will create a global leader in the automotive, commercial vehicle, off highway and other industrial sectors.. The combined company will be well positioned to capitalize on favorable megatrends in the industry by bringing together complementary product offerings, outstanding development capabilities, and leading technology that serve high-growth areas.
Kazuyuki Konishi, Chairman and CEO of Hitachi Metals, Ltd. said, “Hitachi Metals and Waupaca Foundry, Inc. (WFI) made a new start today. I expect that Hitachi Metals and Waupaca’s role will be ever larger in the global environment. Waupaca will be the foundation of the growth of Hitachi Metals group. ”
Eiji Nakano, President, High-Grade Functional Components Company of Hitachi Metals, Ltd. said, “With Waupaca becoming a member of Hitachi Metals Group, it is possible to become the world’s largest iron casting supplier. It is essential that Waupaca and Hitachi Metals unite, generate synergies and mutually strengthen both parties' business foundation. ”
Gary Gigante, President and CEO of Waupaca Foundry, Inc. said, “Combining Hitachi Metals’ materials technology and Waupaca Foundry’s operational excellence will create synergies that will strategically impact and benefit our customers. I’m looking forward to the integration of the Hitachi Metals and Waupaca teams because together we will become “Global No.1.”
Waupaca Foundry is headquartered in Waupaca, Wisconsin and operates four plants in Wisconsin and one plant in each Tennessee and Indiana. Waupaca Foundry employs approximately 3,900 people and will continue to operate under its current name. It will remain headquartered in Waupaca, Wisconsin.