FAIRCAST INVESTORS ACQUIRE GALESBURG FOUNDRY

FAIRFIELD, IA OCTOBER 9, 2019. Faircast, Inc announced today that it has acquired an Illinois foundry, Galesburg Castings Inc.
The Fairfield Iron foundry, with roots back to 1903 as a standout manufacturer, has acquired Galesburg Castings. The increase in business with this acquisition will bring Faircast, Inc. one step closer to a major modernization that includes new molding lines and sand systems. Coupled with the large capital improvements already made, Faircast, Inc is setting themselves up to be a Midwestern casting powerhouse. The acquisition solidifies the vision of increasing profitability and revenue while maintaining diversity and competitiveness in the industry.

Galesburg Castings Inc. founders, John Fox and Jim Steinbeck started the company in Galesburg in 1994 and produce gray and ductile iron castings. Galesburg Castings share many common customers with Faircast, Inc. which will only help in making this a smooth transition.

As part of the acquisition, manufacturing operations of both companies will be consolidated to Faircast, Inc in Fairfield, IA.

If you would like more information about this topic, call Faircast, Inc President Ken Ledoux at 641-209-4100 or email at [email protected]

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