DETROIT -- Grede Holdings has completed the acquisition of the foundry and machining assets of Paxton-Mitchell Corp., an industrial foundry and machining facility in Omaha, Neb. The facility, to be called Grede Omaha, strengthens Grede's position in the heavy truck and industrial markets. Financial terms were not disclosed.
The facility employs 75 people and is expected to expand in 2012 as business is transferred into Omaha from other Grede foundries.
Grede Holdings, of suburban Detroit, ranks No. 91 on the Automotive News list of the top 100 suppliers to North America with parts sales to automakers in North America of $375 million in 2010.
