Tonight: (Fall begins at 10:29pmET) Clear and much cooler with an overnight low in the ... More...
Etowah Waupaca Plant Under New Ownership
Waupaca, WI - Waupaca
Foundry, Inc., formerly ThyssenKrupp Waupaca, announced today the
completion of its acquisition by KPS Capital Partners, LP. Upon closing,
the Company was renamed Waupaca Foundry, Inc.. Financial terms of the
transaction were not disclosed.
Among its holdings, Waupaca operates Plant 6 located on 95 acres outside the city limits of Etowah, TN.
Foundry continues to be led by Gary Gigante, who is the President and
Chief Executive Officer. Headquarters will remain in Waupaca, WI.
is an exciting time for our employees and our customers," said Gary
Gigante. "Our affiliation with KPS will give us the resources to
reinvest in our organization in order to serve the anticipated market
Waupaca Foundry was founded in 1955. In 2011 the foundry
returned to pre-recession staffing levels in response to increased
business in its key markets.
Waupaca Foundry employs 3,500 people
at three foundries in Waupaca and one in Marinette, Wisconsin, and
plants in Tell City, Indiana, and Etowah, Tennessee.
Foundry produces gray, ductile, compacted graphite and austempered
ductile iron castings using state-of-the-art technology.
The firm serves the automotive, commercial vehicle, agriculture, construction, and other industrial markets.
For more information, visit www.waupacafoundry.com.
More Business News
Last Update on September 22, 2014 17:29 GMT
NEW YORK (AP) -- Hundreds of activists protesting what they say is Wall Street's role in the climate crisis have gathered in lower Manhattan's financial district.
Scores of environmental activists dressed in blue are marching, carrying signs, chanting and sitting down on Broadway and elsewhere as workers and tourists look on.
Organizers say the protest is meant to highlight the role corporations play in stalling political action to combat global warming. It comes a day after more than 100,000 participated in the People's Climate March through Manhattan.
Participants in Monday's sit-down say they anticipate being arrested to push home their political point.
Urban farmer Ben Shapiro from Youngstown, Ohio, says he came to disrupt Wall Street and actively "confront the system."
WASHINGTON (AP) -- Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce.
The National Association of Realtors says sales of existing homes fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million. That snaps a four-month streak of gains. August sales are down from a July rate of 5.14 million, a figure that was revised slightly downward.
Much of the slowdown came from the exodus of investors, who had been buying properties in the aftermath of the housing bust and recession. Investors accounted for just 12 percent of August purchases, compared to 17 percent a year earlier.
Overall, the pace of home sales has dropped 5.3 percent year-over-year.
Rising prices through much of 2013 and weak income growth priced out many would-be buyers.
FRANKFURT, Germany (AP) -- The head of the European Central Bank is warning that the eurozone's already tepid economic recovery "is losing momentum."
Mario Draghi is telling members of the European parliament that recent economic indicators have given "no indication" of an upturn since August. The 18 countries that use the euro saw no economic growth at all in the second quarter.
Draghi says growth is being threatened by geopolitical disturbances and the failure of member governments to reform their economies and make them more efficient.
The ECB chief also defended the bank's new stimulus program, an offer of cheap, long-term loans to banks. Banks took only 82.6 billion euros at the first offering last week, less than many market analysts expected. Draghi says the takeup was within the bank's expectations.
NEW YORK (AP) -- Apple says it sold more than 10 million iPhone 6 and 6 Plus models, a record for a new model, in the three days after the phones went on sale.
A year ago, Apple Inc. said it had sold 9 million of the then-new iPhone 5C and 5S models.
The iPhone is available in the U.S., Australia, Canada, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore and the U.K. It will go on sale in 20 more countries on Sept. 26 and others by the end of the year.
CEO Tim Cook said Monday that demand for the phones has exceeded the company's expectations. Besides larger screens, the new phones offer faster performance and a wireless chip for making credit card payments. The phones start at $199 with a two-year service contact.
WASHINGTON (AP) -- Charles Plosser, a leading inflation "hawk" at the Federal Reserve, says he will retire in March.
Plosser, who has been president of the Fed's Philadelphia regional bank since August 2006, has been among the leaders of the officials known as hawks for their concerns that a continuation of low-interest rate policies could ignite inflation.
He has dissented at the past two Fed meetings, when the central bank voted to maintain its plan to keep a key short-term rate at a record low for a "considerable time."
Plosser, 66, would have given up his vote on the Fed's policymaking committee next year as part of the normal rotation of votes among the regional bank presidents. And the rules governing the Fed's 12 regional banks would have required his retirement in 2016.
GENERAL MOTORS-IGNITION SWITCH DEATHS
DETROIT (AP) -- The death toll from crashes involving General Motors small cars with faulty ignition switches has risen to at least 21.
Compensation expert Kenneth Feinberg says in an Internet posting he received 143 death claims as of Friday. He has determined that 21 are eligible for compensation so far. Last week 19 death claims were deemed eligible for payments.
Feinberg also has received 532 injury claims. Of those, 16 are eligible for compensation thus far. The rest are still being reviewed.
GM has admitted knowing about the ignition switch problem in small cars like the Chevrolet Cobalt for more than a decade. Yet it didn't begin recalling the cars until February.
The switches can unexpectedly shut off the engine and cause crashes.
GM hired Feinberg to compensate crash victims.
PARIS (AP) -- Air France pilots are rejecting the company's offer to delay the expansion of its low-cost carrier, Transavia, after a seven-day strike that the airline says is costing it up to 20 million euros ($25 million) a day.
Pilots unions went on strike last week after Air France-KLM announced plans to save 1 billion euros ($1.3 billion) over several years in part by transferring European operations to Transavia. The company, which is cutting costs to try to stay competitive with budget airlines, says talks are deadlocked. About half the airlines' flights have been cancelled since the strike began.
The main pilots' union, SNPL, says Monday's offer to delay the expansion until December is a smokescreen, accusing the airline of trying to outsource jobs to countries with lower taxes and cheaper labor.
OAKLAND, Calif. (AP) -- Clorox is shutting down its operations in Venezuela, citing restrictions by the government, supply disruptions and economic uncertainty.
Shares jumped 3 percent before the opening bell Monday.
The U.S. consumer products company said that for almost three years it has had to sell more than two-thirds of its products at prices frozen by the Venezuelan government. Over that same time span, there has been a sharp rise in inflation that resulted in significantly higher costs for Clorox. The company says it's selling products at a loss in the country.
The Clorox Co. met repeatedly met with government authorities and said it had expected significant price hikes. However, the increases that were approved were "nowhere near sufficient" and it said the company would be forced to continue operating at a loss.
The Good LifeCelebrating the events, adventures and activities that represent "The Good Life" in the NewsChannel 9 viewing area.
SideroadsTake a ride with Brian Smith to explore the unique people and places to be found along the Sideroads of the NewsChannel 9 viewing area.
Road TrippinCome Road Trippin' with us and see all the great sites in your area!
Closings and DelaysThese are the latest School and Business Closings reported to NewsChannel 9. If you see errors or need to add a school or business, call 423-757-7320.
This N ThatLearn about the latest in community affairs and great events with Brian Smith on This 'N That.
Educator of the WeekNominate now for Educator Of The Week!
Deaf & Hard of HearingInformation provided to NewsChannel 9 by members of the Deaf and Hard of Hearing Community.
Sponsored EventsCheck Back Often for NewsChannel9 Sponsored Events!