Management Purchases Foundry in Pennsylvania
EMI Co., a ductile iron foundry with projected 1988 sales of $33 million, has been sold to its management, Charterhouse Group International and Hitachi Metals International.
EMI, which has 280 employees, is a supplier of castings, manifolds and transmission cases for heavy-duty truck and off-highway equipment.
Kurt Van Vlandren, spokesman for the new owners, said there will be no layoffs at the Erie plant and there are “preliminary plans being looked at to expand the facility.”
President George Metcalf and five other officers of EMI Co. are partners with Charterhouse Group International and Hitachi Metals International in the venture, Van Vlandren said.
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