Former Fairfield Casting LLC Foundry Now Under New Ownership
June, 28 2017
FOR IMMEDIATE RELEASE
FEDA received immediate notice late today that Fairfield Casting LLC was sold at auction to a new ownership group. Faircast, Inc, comprised of local investors, purchased certain assets of Fairfield Casting LLC on June 28th, 2017.
Due to the sale commencing just today, many details of the transaction are still being finalized and more information is expected to be known in the next few days. Though, information is still forthcoming, what we do know for sure is that the operations will remain in Fairfield and that the local investment group is passionate about the long-term success and sustainability of the foundry.
“Based on what information we have thus far, I am very optimistic. Out of all the possible outcomes that could have come from the auction, I think this will be very positive for Fairfield overall. We look forward to providing more information as details come forward, including information about employment opportunities and dates of when production will begin with Faircast, Inc.,” says Joshua Laraby, Executive Director for FEDA.
Responding to the Needs of Displaced Workers from Fairfield Casting LLC
Learning that most of the foundry employees were laid off and displaced last week under the previous ownership, and prior to learning about who the new ownership would be, FEDA wanted to immediately respond and organize to get any displaced workers back to work in Fairfield. In response, FEDA began organizing and advertising for a manufacturing job fair set for July 6th in Fairfield.
“Almost all of the manufacturing companies in Fairfield have open positions and are currently hiring. There are immediate opportunities for folks to get back to work. Even though we are positive about the future of the foundry, FEDA has decided to continue forward with holding the job fair since advertising and organizing is underway,” Laraby says.
Employers with open positions are encouraged to contact FEDA to reserve a booth and community members who know of any displaced workers are encouraged to share the job fair information with them.
Fairfield Economic Development Association
Fairfield Manufacturing Job Fair
Where: Fairfield Best Western, 2200 West Burlington Ave. in Fairfield
When: July 6th, 3p.m. to 6 p.m. employers are able to arrive as early at 2 p.m to set up a booth
Contact Information: Joshua Laraby, Executive Director for FEDA Joshua.laraby@growfairfield.com or 641.472.3436
Again, FEDA is thrilled with the news that the foundry operations will remain in Fairfield and we look forward to more information coming forward.