The former Faircast Inc. foundry in Fairfield, Iowa, has been acquired and will restart in the months ahead, according to local reports citing the new ownership. A holding company called Hycast LLC purchased the century-old green-sand foundry on August 1.
The cost of its purchase has not been announced.
Faircast Inc. closed in April, leaving 88 employees out of work. That company had been established in 2017 following the reorganization of Fairfield Casting LLC, previously known as Dexter Foundry Inc. It listed a production capacity of 170,000 tons/year for parts ranging from 1 to 100 lbs., for pump housing, drums, agricultural machinery, construction equipment, railroad systems, and similar applications.
A representative of the new ownership reported that a foundry-industry veteran, Dennis Michels, had been hired as president of the soon-to-be started Hycast Foundry, and two former Faircast managers and about a dozen other former employees had been hired to begin the process of preparing the plant to restart.
A total of 25-30 are expected to be hired to staff the new business.