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Company News: Archives

Republic Financial Corporation Acquires Great Lakes Castings
Top Colorado Investment Company Contributes to Company Growth

Aurora, Colorado - December 14, 2006 Republic Financial Corporation ("Republic"), a privately held company with investment interests in a diverse portfolio of operating companies, announced today the acquisition of the operating business of Great Lakes Castings, LLC, a leading gray iron castings foundry. Republic has, through a subsidiary, acquired Great Lakes' operating business, offering stability for the business and for the customers of Great Lakes.

"We are excited about investing in Great Lakes and the chance to work with the management team to make a good company even better," says Bob Possehl, executive vice president of Republic. "Great Lakes has a solid reputation in the manufacturing industry with a strong customer base which will be key in our focus to grow the business and attract new customers."

Great Lakes Castings, LLC is a leading foundry specializing in gray iron castings for different industries, including air conditioning, industrial applications, construction, heavy trucks, farming and automotive. The existing management of Great Lakes Castings will be retained and the business and operations of Great Lakes will continue providing its customers the same great quality products. Republic will provide capital and financial and other expertise to support the existing management team in its continued fulfillment of customer expectations and the pursuit of strategic growth initiatives.

"We are very pleased with the stability and support Republic offers to its operating companies. This transaction provides us with an opportunity to improve operations as a benefit not only to our customers but also to the employees who live in the community," says Rob Killips, president of Great Lakes Castings. "We look forward to working with the management team at Republic to grow the business."
Republic's success is attributable to the significant amount of time, talent and resources spent analyzing, underwriting and managing the assets acquired. The company emphasizes tracking the markets in which it operates and gaining a detailed understanding of opportunities through extensive due diligence in order to maximize returns while mitigating risk.

About Republic Financial Corporation
Republic Financial Corporation, located in Aurora, Colorado, is a privately held company with investment interests in a diverse portfolio of operating companies. Representative industries include promotional products, corporate staffing, construction aggregates, aviation, security software, telecommunications and data services. The company invests in middle-market companies, small market buy-outs, early stage venture capital, commercial debt and aviation assets. Since 1971, Republic has achieved commercial success by developing creative solutions to difficult and complex business situations. For more information visit www.republic-financial.com.

About Great Lakes Castings, LLC
Great Lakes Castings, LLC is a leading supplier of gray iron castings with a foundry in Ludington, Michigan and a finishing facility in Holland, Michigan. The company specializes in iron castings for the air conditioning, automotive aftermarket, compressor, construction, farm, heating, pump, refrigeration, and valve industries. For more information, visit www.greatlakescastings.com

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Great Lakes Castings Hires Craig Mosier as Sales Engineer
Grey Iron Castings Company Hires New Sales Engineer to Better Meet Customer Needs

LUDINGTON, MI (November 21, 2006)-- Great Lakes Castings LLC, a leading supplier of gray iron castings, recently hired Craig Mosier as a Sales Engineer for gray iron castings to meet the demands of their growing business.

“Craig comes to us with strong experience in helping castings customers with their engineering challenges,” said Robert Killips, President of Great Lakes Castings. “By working directly with the customers, Craig can help us provide the value added services that make a big difference to the end result.”

Prior to coming to Great Lakes, Mosier was a sales engineer meeting the design needs of customers in the packaging industry. His educational background includes a Bachelor of Science from Western Michigan University.

Great Lakes Castings is a QS9000 registered company and plans to be certified to TS16949 during the first quarter of 2007. They have a wide variety of molding machines, including five 14 x 19 Hunters, two 20 x 24 Hunters and a 20 x 24 Roberts Sinto machine, as well as a 2013B Disamatic machine.

Great Lakes Castings is a leading supplier of gray iron castings with a large foundry in Ludington, Michigan and a finishing facility in Holland, Michigan. The company specializes in iron castings for the air conditioning, automotive aftermarket, compressor, construction, farm, heating, pump, refrigeration, and valve industries.

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FOR IMMEDIATE RELEASE:
Great Lakes Castings Launches Dynamic New Website
Michigan Castings Company Debuts Upgraded, Modernized Internet Site

LUDINGTON, MI (September 28, 2006) –Great Lakes Castings LLC, a leading supplier of gray iron castings, recently launched their redesigned website. The customer-focused new site features a wealth of information about the company, their operations, and their products.

“This new site offers improved functionality and a streamlined design that will allow our customers and potential customers to find the information they need about our services and capabilities,” said Eric Bansch, Vice President of Great Lakes Castings. “The layout has been updated for ease of use and now provides a clearer view of our capabilities. This new site features company history, as well as detailed information about our Hunter and Disamatic machines, our green sand molding processes, and the cored castings we produce.”

The new site simplifies the process of finding information about Great Lakes Castings by dividing all the information into four overall segments. The Our Company, Our Products, and Our Processes segments feature information about how Great Lakes Castings serves its customers. The Resources segment includes helpful articles for potential customers on what to consider when buying castings, the benefits of castings, and how to select the best castings vendor, as well as a links page connecting potential customers to more information about castings.

Great Lakes Castings is a leading supplier of gray iron castings with a large foundry in Ludington, Michigan and a finishing facility in Holland, Michigan. The company specializes in iron castings for the air conditioning, automotive aftermarket, compressor, construction, farm, heating, pump, refrigeration, and valve industries.

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FOR IMMEDIATE RELEASE
Great Lakes Castings Brings Added Value to Customers with Lean Manufacturing 
Gray Iron Castings Company Meets Customers Demands by Going Lean

LUDINGTON, MI (February 21, 2006) — Great Lakes Castings Corporation, a leading supplier of gray iron castings, brings value to customers who are working with lean manufacturing by providing castings in smaller quantities and with shorter lead times than foreign competitors.

“We are equipped to do fast set-up times, which allows us to perform short runs,” said Robert Killips, President of Great Lakes Castings Corporation. “Having the ability to perform short runs means we can help when a customer only needs enough castings to finish a job, and our location here in the US means we can ship to our customers sooner.”

Great Lakes Castings embraces the principles of lean manufacturing, unlike many companies in the gray iron casting industry. This gives Great Lakes a competitive edge in the gray iron market. Many of Great Lakes Castings’ customers use lean manufacturing principles because of the significant efficiencies. Customers can react quickly to the market without increasing inventory by allowing product to flow through the system, from supplier directly to their customers, saving inventory levels, time and resources.

Great Lakes Castings Corporation is a leading supplier of gray iron castings with a large foundry in Ludington, Michigan and a finishing facility in Holland, Michigan. The company specializes in iron castings for the air conditioning, automotive aftermarket, compressor, construction, farm, heating, pump, refrigeration, and valve industries.

FOR IMMEDIATE RELEASE
Great Lakes Castings Promotes Eric Bansch to Vice President of Sales and Marketing   Michigan-based Gray Iron Casting Company Promotes Marketing Director to Help Lead Company’s Future

LUDINGTON, MI (October 20, 2005)— Great Lakes Castings Corporation, a leading supplier of gray iron castings, recently announced the promotion of Eric Bansch to Vice President of Sales and Marketing.

“Eric has the ability and determination to assist our company in achieving its business objectives to support the strategic plan,” said Robert Killips, President of Great Lakes Castings Corporation. “I’m confident that his skills and knowledge will benefit our company’s future.”

In his new role, Bansch will lead the sales and marketing department to achieve the company’s business objectives, and establish departmental structures, goals and objectives to support the strategic plan.

Throughout his 25 years with Great Lakes Castings, Bansch has developed many strong relationships with customers and he looks forward to enhancing them as the new Vice President of Sales and Marketing.

Bansch resides in Ludington with his wife and three daughters. He enjoys golfing on the weekends and in his spare time.

Great Lakes Castings Corporation is a leading supplier of gray iron castings with a large foundry in Ludington, Michigan and a finishing facility in Holland, Michigan. The company specializes in iron castings for the air conditioning, automotive aftermarket, compressor, construction, farm, heating, pump, refrigeration and valve industries.


FOR IMMEDIATE RELEASE
Great Lakes Castings Offers Customers a Two Week Lead Time to Market.  Michigan-based Casting Company Provides Quick Turnaround to Reduce Inventory for Customers With Existing Tooling

LUDINGTON, MI (August 8, 2005)—Great Lakes Castings Corporation, a leading supplier of gray iron castings, now provides a two week lead time to market on most castings for customers who have existing tooling with them.
“Our ability to offer a two week lead time to most of our customers with existing tooling at Great Lakes creates a tremendous value for our customers,” said Robert Killips, President of Great Lakes Castings Corporation. “We have the people and the machinery working together to deliver high quality gray iron castings to our customers in a timely manner. This helps reduce costly inventory and speeds up their time to market.”

Great Lakes Castings is a QS9000 and ISO9002 registered company. They have a wide variety of molding machines including six 14 x 19 Hunter, two 20 x 24 Hunter and a 20 x 24 Roberts Sinto as well as a 2013B Disamatic.

Great Lakes Castings Corporation is a leading supplier of gray iron castings with a large foundry in Ludington, Michigan and a finishing facility in Holland, Michigan. The company specializes in iron castings for the air conditioning, automotive aftermarket, compressor, construction, farm, heating, pump, refrigeration and valve industries.

 

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