Released on October 5, 2009

Goldens’ Foundry and Machine Co., Columbus, Ga., announced it has filed a petition under Chapter 11 of the U.S. Bankruptcy Code in the Middle District of Georgia.

According to a company press release, the ferrous metalcasting facility, which has been in operation since 1882, will continue to operate its plants in Columbus, Ga, and Cordele, Ga., during the restructuring. The company purchased the Cordele facility in May 2007 and in 2008 posted sales figures approximately 50% higher than the previous year.

“We believe that restructuring is the best course of action faced with the current economic realities and that it will allow us to continue to meet our customers' casting needs,” said the company’s President and CEO George Boyd, Sr. 
 
Goldens’ announced the filing would allow it to continue to pay its employees and suppliers while maintaining uninterrupted delivery of service to its customers.

Goldens’ currently employs 154, 116 of whom are in Columbus. The company provides gray and ductile iron castings to the transportation, construction, agriculture and energy markets.