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American Cast Iron Pine Co. to acquire Mid-American casting.

American Cast Iron Pipe Co., Birmingham, Alabama, has entered into a definitive agreement to purchase the foundry owned by Mid-American Casting Corp. at MidAmerica Industrial Park in Pryor Creek, Oklahoma. The transaction was expected to be completed by early September.

"We greatly appreciate the leadership of MidAmerica Industrial Park in bringing together representatives of the Grand River Dam Authority, Northeast Technology Centers and the Oklahoma Dept. of Commerce to make this acquisition possible," said ACIPCO president and CEO Van Richey. "Their efforts provided our staff with invaluable support that has resulted in our purchase of ACIPCO's first facility in Oklahoma."

Mid-American Casting currently specializes in producing gray and ductile iron castings for a variety of industrial and commercial applications. ACIPCO will continue to serve those markets, in addition to providing a source of valve, fire hydrant and fire pump components for ACIPCO's American Flow Control Div.

"We are very optimistic about the potential of our new facility at MidAmerica," Richey said. "We expect to hire 150 employees in our first year of operation with significant employment growth within the next three years."
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Title Annotation:Mid-American Casting Corp.; Acquisitions
Publication:Modern Casting
Article Type:Brief Article
Geographic Code:1USA
Date:Sep 1, 2003
Words:182
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