Investor Group Buys Richland Center Foundry

March 9, 2007
TMB offering management experience, financial support

March 9, 2008 — Richland Center Foundry, which produces large ductile and gray iron castings for manufacturers of mining and construction equipment, has been acquired from Schneider Fuel and Supply Co. by a private-investment group, TMB Industries, for an unreported price. TMB Industries, Chicago, invests in industrial organizations, generally with sales between $30 and $500 million, having acquired 40 businesses since 1989.

John Gerszewski, formerly general manager at Richland Center Foundry, now becomes its president, and Mark Clark will continue as its chief financial officer. TMB will oversee RCF through its principal officers, who the group says "have significant experience in managing foundries and industrial businesses."

Thomas Begel, chairman of TMB Industries, stated, "We are excited to acquire Richland Center Foundry, a company with an outstanding reputation for product quality, an excellent customer base, and a unique set of manufacturing capabilities." Begel indicated the investors would be providing investment capital and other resources necessary to build on these strengths.

Richland Center Foundry in Richland Center, WI, produces gray and ductile iron castings, in complex shapes using-no bake and green-sand processes. RCF focuses on manufacturing large complex castings weighing up to 2,500 lb. Typical products include transmission housings, exhaust manifolds, turbocharger housings, rotors, and stators, In addition to mining and construction vehicle producers, RCF's customers manufacture locomotive powertrains, pumping equipment, stationary diesel engines, and power generation systems.