Atchison Casting subsidiary secures $30 million contracts with DaimlerChrysler, Dana. (North America).Atchison Casting Corp., Atchison, Kansas  , announced that its subsidiary, Inverness Casting Group, Inc., Dowagiac, Michigan Dowagiac, founded in 1848 is a city in Cass County in the U.S. state of Michigan. The population was 6,147 at the 2000 census.Dowagiac is situated at the corner of four townships: Wayne Township to the northeast, La Grange Township to the southeast, Pokagon Township to the , has secured multi-year contracts with DaimlerChrysler, Stuttgart, Germany, and Dana Corp., Toledo, Ohio
"These contracts reflect the long-term relationship we've had with both DaimlerChrysler and Dana, and their confidence in our ability to deliver," said Jim Partlowe, president of Inverness Casting Group. Inverness produces aluminum die castings for automotive, furniture and appliance markets. Inverness will supply DaimlerChrysler with the 2.7-L timing chain and the 3.5-L timing belt for the new 2004 LX models. Annual sales are estimated at approximately $2 million/yr for 10 yrs, with production starting in January 2004. Dana Corp. has contracted Inverness to build the tooling for the Nissan differential carrier, which will be used on the Nissan full size truck. Annual sales are estimated at approximately $2.5 million/yr for 5 yrs, with production starting in June 2004. In other news, Atchison's French subsidiary, Fonderie d'Autun (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ), has filed a voluntary petition for reorganization with a local court in Chalons, France. FDA intends to present a plan of continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the for approval by the court so that the foundry can complete its conversion from a production facility for cast iron radiators to automotive and appliance castings. "FDA has entered two new markets-automotive castings and appliance castings-to replace its declining cast iron radiator volume," said Hugh Aiken, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Atchison Casting. |
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