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Company
News
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8/4/02 |
Michigan
Steel, Inc. Completes Purchase of
West Michigan
Steel Foundry
Muskegon,
MI.,
August 4, 2002
– Michigan Steel, Inc. has finalized the purchase of West Michigan Steel
Foundry, formerly a division of TIC United Corporation of
Dallas,
Texas.
The
founder and CEO of Michigan Steel, Vaughn W. Makary, is the former CEO of
a $700 million company which produced and supplied cast and fabricated
products to the railroad industry and general commercial markets.
In addition to his position as CEO of Michigan Steel, Vaughn is the
president of Omnicast, LLC, a steel and ductile iron distribution company.
West
Michigan Steel Foundry, which will now continue under the name of Michigan
Steel, Inc., specializes in steel castings produced in a wide variety of
alloys ranging in size from five to 3000 pounds.
The business, which began producing steel castings in 1912,
utilizes some of the most efficient, automated, and technologically
advanced casting processes in
North America. Michigan Steel, Inc., also
employs some of the most advanced engineering and technical resources in
the industry.
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| 7/22/02 |
Court approves sale of
West Michigan Steel Foundry to Michigan Steel, Inc.
Muskegon
, MI.,
July 22, 2002
– A
U.S.
bankruptcy court has approved the sale of West Michigan Steel Foundry, a
division of TIC United Corporation of
Dallas
,
Tx., to Michigan Steel, Inc. The
division’s parent company filed for chapter 11 bankruptcy in November,
2000. The sale of the business
is expected to close within the next thirty days.
“We
are excited about working with the dedicated customers and suppliers and
the many experienced, enthusiastic employees of the company. Our
organization is anxious to expand the business and increase the customer
base,” stated Vaughn Makary, CEO of Michigan Steel, Inc.
“This company has been a part of the steel casting industry for
nearly 100 hundred years, and we are proud to build upon that
tradition.” The sale of the
business, which will be retained at its current location, will have a
significant impact on the community by retaining one of the heavy
industries that has been an integral part of the
Muskegon
area for decades.
West
Michigan Steel Foundry, which will now continue under the name of Michigan
Steel, Inc., specializes in steel castings produced in a wide variety of
alloys ranging in size from five to 3000 pounds.
The business, which began producing steel castings in 1912,
utilizes some of the most efficient, automated and technologically
advanced casting processes in
North America. Michigan Steel, Inc., also
employs some of the most advanced engineering and technical resources in
the industry.
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