Citation Selling Illinois Foundry

Feb. 21, 2007
Sale of Skokie will allow Citation "to focus on fewer products"

February 20, 2007 — Citation Corp., a Birmingham-based metalcasting holding company, has an agreement to sell its Skokie, IL, gray and ductile-iron foundry to Castwell Products L.L.C. for an undisclosed price. Castwell is backed by a private-equity group, Hunt Special Situations Group. Citation called the sale "another step in the company’s aggressive plan to strengthen its responsiveness to customers, win new business and build a strong financial base."

Ed Buker, president of Citation, stated that Skokie "has been a successful operation for us, (but) it serves niche markets that are no longer part of our long-term strategy.” He said the sale would allow the company "to focus on fewer products while strengthening our ability to respond to customers.”

The Skokie foundry was acquired by Citation in 1995 from Castwell Products Corp. It produces gray- and ductile-iron precision castings in a variety of alloys and dimensional tolerances, for truck and diesel engine components, petroleum, aftermarket light-duty vehicles, aerospace, mining, hydraulics, and agriculture markets.

Citation emerged from bankruptcy in May 2005. While it is expanding operations at its Grand Rapids (MI) division, it has agreed recently to sell its forging operation in Navasota, TX. And, it phased out operations at Lake Zurich, IL, and Bay Minnette, AL, in 2006.