ALCAST Midwest Works (formerly FALCO) Sells to Aluminum Castings Company
Fairfield, Iowa (November 30th,2018) Effective yesterday, ALCAST Midwest Works LLC in Fairfield, restructured and sold its operating assets to its Galesburg, Illinois based sister company, Aluminum Castings Company.
Aluminum Casting Company is a high-quality American aluminum sand castings foundry, specializing in supplying both cored and uncored parts in several aluminum alloys of all sizes and volumes, including prototyping.
Vice President of Operations for Aluminum Casting Company, Scott Kelsey, said, “we want to reassure the community, little will change, and operations will stay in Fairfield. Aluminum Castings Company is stable and well established. This was a strategic business move for us to ensure the life of Fairfield operations and this will position us for growth in this facility.”
With this transition, Kelsey said that operations between their different location were also restructured. They have reemphasized the sand molding operations in Fairfield to leverage the existing equipment and talent at the Fairfield location. They have also relocated their heat treating and grinding operations back to the Fairfield from their Clarence, Missouri facility. In addition, a portion of the previously outsourced core making work, has now also been brought in-house to the Fairfield location. “This is a positive change for the long-term sustainability of the company, we’re going to have a completely different level of support from their years’ experience from our other operations, said Kelsey”
In the sale, 36 of the Fairfield staff were hired by Aluminum Casting Company and 9 were not hired. “We were able to identify some opportunities for work-sharing with our other facilities and create some efficiency within our operations, said, Kelsey”
Kelsey, has been the V.P. of Operation for Fairfield since the first acquisition in August of 2017, says “ownership and management will not change. We have invested $1.5 million dollars into the facilities and equipment in Fairfield since 2017 and we have also added great health insurance benefits for our employees and a 401K opportunity, both which were not previously offered.”
Kelsey sees a positive outlook on the aluminum castings industry, both in the short and long term. “The industry is strong and as long we are able to maintain sustainable profits, we are looking at adding a new sand molding machine in Fairfield, which would add jobs here.”
Joshua Laraby, Executive Director for Fairfield Economic Development Association, said, “It is good news to hear most operations will remain in Fairfield. Considering the changes, things sound to be stable for the company overall.”
“The local economy is strong and all of our sectors including the manufacturing sector are continuing to grow and add jobs. I encourage the displaced workers to apply with the Fairfield manufacturing companies.”