Faircast investors purchase Galesburg Castings
AFS Corporate Member Faircast Inc. (Fairfield, Iowa) announced it has acquired Corporate Member Galesburg Castings (Galesburg, Illinois).
In a news release, Faircast said "the increase in business with this acquisition will bring Faircast one step closer to a major modernization that includes new molding lines and sand systems."
"Coupled with the large capital improvements already made, Faircast, Inc is setting themselves up to be a Midwestern casting powerhouse," the company said. "The acquisition solidifies the vision of increasing profitability and revenue while maintaining diversity and competitiveness in the industry."
As part of the acquisition, manufacturing operations of both companies will be consolidated to Faircast.