Neenah Enterprises Sells Advanced Cast Products Business to Grede

NEENAH, WI., July 30, 2021 /PRNewswire/ -- Neenah Enterprises, Inc. (NEI), one of America's largest independent foundry companies, today announced that it has completed the sale of NEI's Advanced Cast Products (ACP) business in Meadville, Pennsylvania, and the heavy truck business of Neenah Foundry to Grede, a leading producer of highly engineered cast and machined iron components headquartered in Southfield, Michigan. Terms of the agreement were not disclosed.

"We are pleased to have completed this sale, which is part of NEI's strategy to expand our Infrastructure business, invest in potential new lines, equipment, and upgrades, and maintain a more targeted Industrial business with customers in the agricultural, construction, defense, material handling, and mining industries," said Tom Slabe, President and CEO of Neenah Enterprises, Inc.

Slabe also shared his appreciation and confidence in the sale, saying: "We thank the Advanced Cast Products team for their hard work and strong contributions to NEI's past performance. We believe the ACP employees are in very good hands with Grede. Further, NEI and Grede are working closely together to ensure a seamless transition for ACP and the heavy truck customers."

About Neenah Enterprises, Inc.

Neenah Enterprises, Inc., is one of the most comprehensive infrastructure and industrial manufacturers in North America and is one of the largest independent foundry companies in the U.S. The Company serves the infrastructure market and agricultural, construction, defense, material handling, and mining industries. NEI produces gray and ductile iron castings. The Company's most recognizable products include manhole covers and frames, drainage gates, and cast-iron trenches in roads and airport runways across America and internationally. NEI currently operates facilities across the U.S. Deeter Foundry in Lincoln, NE.; Neenah Foundry in Neenah, WI.; Morgan's Welding in Myerstown, PA.; and Reliance Foundry in Surrey, British Columbia. For nearly 150 years, NEI's committed professionals have provided technical solutions to complex problems for our customers and our communities. Additional information about NEI is available on the Company's website at www.nfco.com.

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SOURCE Neenah Enterprises, Inc.