Released on April 24, 2009

Presto Casting Co., Glendale, Ariz., recently hired an energy consulting firm in order to lower its spiking natural gas costs.

A spokesperson for the supplier of aluminum and magnesium castings to the aerospace industry said the company hired the firm, U.S. Energy Services, Minneapolis, to combat volatile natural gas prices offered by its local supplier. The energy consultant solicits a number of competitive bids from natural gas providers then locks in the lowest rate it receives.

“We could do it in-house, but we’re also paying for their guidance as far as when to lock in the rate,” said Matt Verbin, the company’s financial controller.

Presto primarily pours its aerospace castings in nobake sand but also does a small amount of green sand castings. The company would not disclose its annual natural gas costs, but Verbin said he expects it will save approximately $100,000 with the service this year.

Presto, a division of Magellan Aerospace Corp., Mississauga, Ontario, Canada, supplies transmission housings, engine casings and other miscellaneous aircraft parts to both military and commercial customers. According to Verbin, the company counts a number of Fortune 500 companies among its customers and had $20 million in sales during the last fiscal year.