April 4, 2016—We have completed the merger with Hitachi Metals Automotive Components USA, LLC as of April 1, 2016. Under the terms of the merger, Waupaca Foundry will assume the assets and liabilities of Hitachi Metals Automotive Components. The merger solidifies our vision to increase revenue and profitability while maintaining diversity across markets and sectors.
Mike Nikolai, President and COO said, “Aligning our operations will provide customers the most cost-effective production while guaranteeing continued high-quality cast, machined and assembled components. This merger leverages the best of both organizations to deliver continued excellence for customers.”
Concurrent with the merger finalization, we are also sharing our three-year business plan, which contains initiatives designed to accelerate global growth. The strategic initiatives are:
- Waupaca Foundry is developing partnerships to locate machining and assembly operations directly near our foundries to meet the needs of customers requesting Tier 1 responsibilities from us.
- Waupaca Foundry has built a reputation on creating high quality, vertically-parted iron castings, but opportunities exist to grow with existing and new customers who want to simplify their supply chain. Plans are underway to locate a horizontal molding line at our Tell City foundry.
- We are in the planning stages and intend to establish a footprint in Mexico to meet increasing demand. All options are open from new construction to acquisition of an existing foundry.