Intermet moving to Monterrey
Bnamericas Published: Tuesday, September 16, 2003
US metal casting company Intermet (Nasdaq: INMT) will start construction this year on a 100,000 sq. ft. ductile iron foundry in northern Mexican city Monterrey, with operations scheduled to begin mid-2004, the company announced. The greenfield plant, designed to reap US$40mn in annual revenues, will include two casting lines and a coldbox coremaking operation. Intermet may expand the plant with further ductile iron facilities or aluminum casting capabilities, according to a company statement. The company, headquartered in Troy, Michigan, specializes in cast-metal automotive components.
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