Intermet announces plan to reorganize into five business groups.Intermet Corp., Troy, Mich., a manufacturer of cast metal automotive components, announced a plan designed to improve overall manufacturing efficiency and reduce costs. A key component of the plan, which is effective immediately, is a reorganization of manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. into five distinct business groups. The company also announced that it has secured a replacement $75 million revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility to help support its plan to sustain and grow its industry position. It will replace the existing revolving facility and provide the company with as much as $35 million in additional liquidity over the term of the new facility. Intermet's new organizational structure  This article has no lead section.To comply with Wikipedia's lead section guidelines, one should be written. allows for increased autonomy at the company's casting plants, giving each facility greater financial and operational control of its business. As a result of these actions, the company's corporate staff is being reduced and critical functions have been transferred to the new business groups. Overall, the company believes the plan will produce ongoing cost savings. The five business groups in the plan, which will each be managed by group presidents, are as follows: Domestic Ferrous ferrous (fĕr`əs), iron in the +2 valence state. Containing or having to do with iron. The difference between ferrous and ferric is the number of valence electrons they contain (ferrous contains two and ferric contains three), which Group--Archer Creek Foundry in Lynchburg, Va.; Columbus Foundry in Columbus, Ga.; Hibbing Foundry in Hibbing, Minn.; and New River Foundry in Radford, Va. Die Casting die casting Forming metal objects by injecting molten metal under pressure into dies or molds. An early and important use of the technique was in the Linotype machine (1884), but the mass-production automobile assembly line gave die casting its real impetus. Group--Jackson Die Casting Plant in Jackson, Tenn.; Minneapolis Plant in New Hope, Minn.; and Pulaski Plant in Pulaski, Tenn. Monroe City Group--Monroe City Aluminum and Zinc plants in Monroe City, Mo., and Palmyra Palmyra, ancient city, Syria Palmyra (pălmī`rə), ancient city of central Syria. A small modern village known as Tudmur is on the site. Magnesium Plant in Palmyra, Mo. PCPC PCPC Philadelphia City Planning Commission PCPC Park Cities Presbyterian Church (Dallas, TX) PCPC Partit Comunista del Poble de Catalunya PCPC Personal Computers Peripheral Corporation Group (Pressure Counter Pressure Casting)--Stevensville PCPC Plant in Stevensville, Mich., and Jackson PCPC Plant in Jackson, Tenn. Europe Group--Neunkirchen Foundry in Neunkirchen, Germany; Porto Foundry in Porto, Portugal; and Ueckermunde Foundry in Ueckermunde, Germany. To further simplify the company and allow its sales function to more effectively interact with both the plants and their customers, Intermet's customer account contacts now will be embedded directly in their respective business groups. Engineering and design activities also will operate predominately at the plant level, providing further enhanced customer responsiveness. |
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