AmeriCast Completes Atlas Casting Takeover

Steel foundry will "diversify, expand market opportunities"

April 9, 2007 — AmeriCast Technologies reports it finalized its purchase of Tacoma-based Atlas Castings and Technology. Atlas produces steel castings for the oil and gas, nuclear power, and fossil-fuel power generation industries, as well as for the U.S. Navy. In addition to the foundry in Tacoma, Atlas operates a machining facility in Chehalis, WA.

The value of the acquisition was not reported. AmeriCast says Atlas will increase the group's annual sales to over $300 million, and diversify and expand "market place opportunities beyond its current industry focus in locomotive, mass transit, mining, and heavy construction."

Based in Atchison, KS, AmeriCast Technologies has five other operating units: Atchison Steel Castings, in Atchison, KS, and St. Joseph, MO; Amite Foundry, in Amite, LA; Prospect Foundry, in Minneapolis; London Precision Machining, London, ON; and AmeriCast Global Services. Its iron and steel castings, as well as machined components and assemblies, are sold to manufacturers of locomotives, mass transit vehicles, mining and construction equipment, and heavy-duty trucks.

“This is a very good day for our customers and our organization,” stated AmeriCast CEO Tom Armstrong. “The addition of Atlas Castings to our current business units reaffirms our industry position as one of North America’s premier suppliers for highly engineered, value-added steel castings.”

Atlas president Duane Britschgi and the foundry's senior management team have joined AmeriCast as equity investors, and will continue in their current positions. “We are very excited about the growth opportunity that this will generate," stated Britschgi. Both companies are recognized as leaders in their respective markets and there should be tremendous synergies for both operational and technical improvements as we learn from each other.”

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