Weekly Update August 19, 2008
Back to Bankruptcy for Intermet Spartan Light Metal Implementing Layoffs The Capital Equipment Re-Investment Cycle
| This Week's Metalcasting News Review |
| || Back to Bankruptcy for Intermet |
Intermet Corp. has filed a petition for creditor protection with the U.S. Bankruptcy Court in Delaware – the company's second resort to Chapter 11 reorganization in less than four years. Read more
| || Diecaster Implementing Companywide Layoffs |
Spartan Light Metal Products is reducing the size of its workforce with a round of layoffs it attributes to "overall weakness in the U.S. economy, higher gasoline prices and lower consumer spending have caused Spartan's customers to make dramatic changes in their order patterns." Read more
| || REB blog: Safety in numbers? |
A research report last week speculated that about 30% of all North American auto parts suppliers may be on the brink of bankruptcy because of declining vehicle sales (especially trucks) and increasing commodity costs. At least one metalcaster is already there. Read more
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Foundry Management & Technology announces launch of Foundry Theater. Watch videos about foundry and diecasting industries. You'll see technical developments; new equipment; finishing technologies; automation systems; quality instruments and new products. You'll see how to reduce cycle times and increase productivity
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