The Waupaca Foundry announced today that it has been sold to a Japanese iron supplier.
The Waupaca Foundry’s parent company KPS Capital Partners has sold the foundry for $1.3 billion dollars to Hitachi Metals, Ltd.
The Waupaca Foundry is the largest foundry in the world, employing more than 3,900 people. Fortunately, the company says the sale is not expected to have a direct impact on employees.
"It will be business as usual. The sale will be totally seamless to the employees, to the customers, the suppliers, everyone.” says Waupaca Foundry CEO Gary Gigante.
Following the sale, corporate headquarters will remain in Waupaca, and the Waupaca Foundry name will be retained.
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