DETROIT -- Grede Holdings is buying its third machining company, GTL Precision Patterns of Biscoe, N.C., for an undisclosed sum.
GTL had machined castings produced by Grede's foundry. Now Grede will integrate those operations, which will produce parts for heavy-truck manufacturers.
The machine shop's 66 employees and former owner, Thomas Schulte-Austum, will remain with the company.
Grede operates 13 foundries and three machining plants in six states.
Grede Holdings, of suburban Detroit, was formed last year when the former Grede Foundries Inc. combined assets with Citation Corp.