Released on February 5, 2008

AmeriCast Technologies Inc., Atchison, Kan., sold its Prospect Foundry, Minneapolis, to TMB Industries, a Chicago-based private equity firm, effective as of Feb. 1.

AmeriCast, which owns five other metalcasting facilities, has been seeking a buyer for Prospect since it trimmed its holdings and was sold to private equity firm Castle Harlan, New York, in 2006. Like the other AmeriCast plants, Prospect serves OEMs in the non-automotive ferrous market. However, because it deals in iron rather than steel, officials said it did not fit the business’s model.

“The sale of Prospect reinforces the AmeriCast mission to be the supplier and employer of choice providing high value-added, large, complex, mission critical steel castings and to sell that value to the customer,” said Tom Armstrong, AmeriCast CEO.

Prospect was purchased for an undisclosed amount and will join TMB’s existing portfolio, which includes Stainless Foundry & Engineering Inc., Milwaukee, and Richland Center Foundry, Richland Center, Wis. Tom Woehlke, Prospect’s president, will continue to lead the TMB metalcasting operations in Minneapolis.

AmeriCast’s remaining wholly owned business units include Atchison Steel Castings, Atchison, Kan., and St. Joseph, Mo.; Amite Foundry, Amite, La.; London Precision Machining, London, Ontario, Canada; AmeriCast Global Services and Atlas Castings and Technology, Tacoma and Chehalis, Wash.