Released on August 11, 2008

A newly-created wholly-owned subsidiary of Neenah Enterprises Inc. and Neenah Foundry Co., Neenah, Wis., has purchased steel fabricator Morgan’s Welding Inc., Myerstown, Pa., for $3.85 million cash.

Neenah announced in a press release that it made the purchase because it wants to provide its customers in the municipal markets of the Northeastern U.S. with fabricated steel gratings along with its iron casting products.

In addition to the cash consideration, the metalcasting company assumed approximately $300,000 of Morgan’s current liabilities to close the deal. Neenah’s new subsidiary changed its name to Morgan’s Welding Inc. upon completion of the transaction, retaining the purchased company’s moniker.

Prior to the purchase of the fabricator, Neenah Foundry Co. and its subsidiaries manufactured only iron castings and steel forgings for the heavy municipal market and selected segments of the industrial markets.