A Fort Wayne company that designs and makes aluminum parts has filed for Chapter 11 bankruptcy protection. It has no plans, however, to cut its workforce of 111, an attorney who represents the company said Monday.
Ward Corp, which owns Ward Aluminum Casting and Ward Pattern & Engineering in Fort Wayne, IN, has filed a Chapter 11 bankruptcy claim, according to local reports.
Ward Aluminum Casting produces sand, semi-permanent, and permanent-mold castings in small and high volumes, according to customers’ specification. Most of its customers are involved in automotive and truck manufacturing, which are offered as the reason for the bankruptcy claim by an attorney representing the company.
“They are definitely in the mode of restructuring,” attorney Daniel J. Skekloff told the Fort Wayne (IN) Journal-Gazette. “They are not liquidating or shutting down.”
Ward Corp. and its subsidiaries filed separate bankruptcy claims, with each listing assets and liabilities of $1 million to $10 million.
Ward Corp. Files Bankruptcy Claim
Restructuring planned for aluminum foundry, patternmaker