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"The objective in combining these two great companies is to harness the best of both companies' people, assets and technologies to provide an unparalleled array of products and capabilities to the iron castings market," says Grimm.
The new Grede organization is in place and will continue to evolve through the integration process. Employees at the former Grede headquarters in Milwaukee will likely relocate to the Novi, MI, and Menominee Falls, WI, facilities in 2010.
The path to combine the two companies was cleared December 23, 2009 when the United States Bankruptcy Court for the Western District of Wisconsin approved the sale of substantially all of the assets of Grede Foundries, Inc. to Grede LLC. The assets included in the sale were six foundries and Grede's Milwaukee, WI, headquarters. The six foundries are Liberty Foundry (Wauwatosa, WI), Iron Mountain Foundry (Kingsford, MI), St. Cloud Foundry (St. Cloud, MN), Reedsburg Foundry (Reedsburg, WI), New Castle Foundry (New Castle, IN) and Wichita Foundry (Wichita, KS). Through the combination with Citation, the new Grede will include an additional eight foundries located in Berlin and Browntown, WI; Brewton, Bessemer, Marion, Columbiana and Selma, AL; Biscoe, NC; and two machining facilities in Menomonee Falls and Oconomowoc, WI.
