Internet acquires remaining 50% interest in joint venture.Internet Corp., Troy, Michigan Troy is a city in Oakland County of the U.S. state of Michigan. It is a suburb of Detroit. As of the 2000 census, the city had a total population of 80,959, the 12th largest city in Michigan by population. , has entered into an agreement with Grupo Jorge de Mello, Portugal, to acquire 100% of the shares of Fundicao Nodular nodular marked with, or resembling, nodules. nodular dermatofibrosis see dermatofibrosis. nodular episcleritis see nodular fasciitis (below). nodular fasciitis a firm painless nodular swelling, 0. , S.A., a Portuguese foundry A semiconductor manufacturer that makes chips for third parties. It may be a large chip maker that sells its excess manufacturing capacity or one that makes chips exclusively for other companies. also known as PortCast Foundry. Internet, who purchased a 50% stake in PortCast in 1998, will fully integrate the firm into its European operations. PortCast, which manufactures ductile iron Ductile iron, also called ductile cast iron or nodular cast iron, is a type of cast iron invented in 1943 by Keith Millis[1]. While most varieties of cast iron are brittle, ductile iron is much more ductile, as the name implies. castings for automotive OEMs, features three green sand molding lines and five melting furnaces with a total annual capacity of 45,000 tons. "Automotive components such as ductile iron brake, suspension and powertrain castings continue to be a growth area for Internet, and PortCast has become a premier European caster of these types of parts," said Gary F. Ruff, president and 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 Internet. "Over the last five years, PortCast has nearly tripled its capacity to cast these components." Over the past two years, PortCast has improved productivity in its finishing and core manufacturing departments by more than 50% and 70%, respectively, with overall plant productivity showing a 25% improvement. "We are very proud of the work our team has done here," said Laurence Vine-Chatterton, president of Intermet Europe. "This transaction will allow Intermet to bring the plant and its products to even more customers under a 'one-brand/one-face' principle." |
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