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Overview : History


1920                             1978    1980          1989          1997    1998                               2014

Since its inception in 1920, Grede has been forging a path within the metal components industry. Destination: Total customer satisfaction. In fact, the company has built its business around this objective in a way few other organizations are capable. Through targeted investments and broad vision, Grede has turned a single iron foundry in Wauwatosa, WI into into a world-class metal components operation with facilities across the United States, servicing Fortune 500 customers.

2012 -

Grede acquires substantially all the assets of Virginia Casting Industries, LLC (VCI), an automotive foundry based in Radford, Virginia.

2011 -

Grede acquires the assets of Paxton-Mitchell Corporation, an industrial foundry and machining facility in Omaha, Nebraska.

2011 -

Grede acquires two foundries from Groupo Proeza: Teknik and Novocast in Monterrey, Mexico.

2010 -

Grede moves its headquarters from Novi, MI to Southfield, MI.

2010 -

Grede acquires GTL Precision Patterns located in Biscoe, NC, complementing Grede's broad casting capabilities in the southern region with a machining operation.

2010 -

Citation is recapitalized and combined with substantially all the assets of the former Grede Foundries, Inc to form Grede. Long time shareholders Wayzata Investment Partners and the GSC Group become majority owners. A new $60 million credit agreement is established with Bank of America and Wells Fargo to secure working capital going forward.

2009 -

Citation acquires Blackhawk Foundry of Davenport, Iowa and the lost foam bead division of Foseco-Morval located in Bessemer, Alabama.

2008 -

Citation restructures into two business units – industrial and transportation – to right-size capacity to meet customer demand and increase its focus on emerging markets such as agriculture, construction, mining, rail and wind energy.

2007 -

Citation recapitalizes the company as part of an aggressive strategy to refocus operations, and delever its balance sheet to continue growing the business. Standard & Poor's upgrades Citation's credit rating to B+/Stable.

2005 -

Citation successfully emerges from Chapter 11 reorganization a stronger, more financially stable company competitive in the markets it serves.

2004 -

Citation files for Chapter 11 reorganization to strengthen the company financially, and combat a sluggish economy and unprecedented increases in material costs.

1999 -

Kelso & Company buys all of Citation's outstanding shares and returns Citation to a privately held company after five years of public ownership.

1998 -

Citation acquires CT-South, Marion, Alabama, a thin-wall ductile iron casting business, and renames it Citation Marion.

1998 -

Citation buys Custom Products, a large machining operation with facilities in Menomonee Falls and Oconomowoc, Wisconsin.

1995 -

Grede acquires St. Cloud facility.

1995 -

Citation buys Berlin Foundry Corporation, Berlin, Wisconsin. The facility is subsequently renamed Citation Wisconsin Castings - Berlin.

1995 -

Citation buys Iroquois Foundry Corporation, Browntown, Wisconsin. The facility is subsequently renamed Citation Wisconsin Castings - Browntown.

1994 -

Citation Corporation becomes a C Corporation and holds an IPO for approximately 4.3 million shares.

1989 -

Grede acquires New Castle facility.

1987 -

ADICO, a ductile iron foundry in Brewton, Alabama is bought and renamed Alabama Ductile Casting.

1984 -

Simsco, Inc., headquartered in Columbiana, Alabama is purchased. Acquisition includes three foundries in Columbiana, Centreville, and Selma, Alabama.

1982 -

Southern Ductile forms a holding company, Citation Carolina Corporation.

1980 -

Southern Ductile buys Foundry Service Company, Biscoe, North Carolina.

1978 -

Jones Foundry Company is renamed as Southern Ductile Casting Corporation.

1974 -

T. Morris Hackney purchases Jones Foundry Company, Bessemer, Alabama.

1951 -

Grede acquires Reedsburg facility.

1947 -

Grede opens Iron Mountain facility.

1920 -

Bill Grede buys Liberty Foundry in Wauwatosa, WI near Milwaukee.

To learn more about Grede, make a selection from the list below.

Grede
One Towne Square, Suite 550
Southfield, MI 48076
(248) 440-9500