Weekly Update March 24, 2009
PBGC assumes four Intermet pension plans Compass buys Citation diecasting, machining units Design Considerations for Cleaning Castings
| Weekly Update – March 24, 2009 |
| This Week's Metalcasting News Review |
| || PBGC Assumes Four Intermet Pension Plans |
Four pension plans covering 4,500 workers and retirees of Intermet Corp. have been assumed by The Pension Benefit Guaranty Corp. — an independent federal agency that promotes continuation and maintenance of voluntary private defined benefit pension plans. Intermet is in the process of a bankruptcy reorganization. Read more
| || Compass Buys Citation's Diecasting, Machining Business |
Compass Automotive Group, a holding company for several aluminum and magnesium casting operations, agreed to buy Citation Corp.’s aluminum diecasting and machining operations in Grand Rapids and Lowell, MI. Citation now says its "business transformation" is complete. Read more
| || Design Considerations for Cleaning Castings |
Different foundries have different needs. Shakeout and cleaning processes are a standard operation, but improving performance demands various approaches with new products and maintenance and operating strategies. Read more
| || REB Blog: Bigger problems |
Rather than speeding these organizations through a broad financial crisis, the White House's Auto Industry Task Force is slowly searching for big solutions. And, they’re building their own supply chain of power and influence. Read more
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