Wisconsin Aluminum Foundry of Manitowoc has announced they’ve purchased the assets of Wabash Castings Inc based in Indiana.
WAF CEO Sachin Shivaram released a statement noting that this acquisition will accelerate their growth in the electric vehicle and consumer goods markets among other exciting opportunities.
He added, “Wabash’s facility, renowned for their ability to produce high volume, complex castings form a perfect complement to our existing breadth of production lines.”
Wabash Mayor Scott Long says “[WAF’s] commitment speaks volumes about what we have done in Wabash and where we are heading. WAF brings stability to a long-term employer in Wabash and will help diversify our local economy by maintaining and providing quality jobs.”
WAF will continue the Wabash Castings brand name.
In addition, an immediate wage increase will be implemented for many of the positions within the company, an expansion 401 k and additional benefits along with becoming a strong partner in the local community.
Long adds “I look forward to working with their (WAF) team and helping them out in every way possible to make Wabash Castings a premier employer in our city.”
The financial terms of the transaction were not disclosed.
