Issue: Feb 2014


Grede Named One of Crain’s Detroit Business’ Fastest Growing Companies



by Alan Tran

Grede Holdings LLC had the fifth highest growth rate in southeast Michigan over the last four years, according to Crain’s Detroit Business’ list of the Fastest Growing Companies.  The list measures revenue growth from 2009 to 2012, during which Grede’s sales soared from $224 million to $1.2 billion – an impressive 436 percent gain.

Crain’s attributed Grede’s increase to a combination of major strategic acquisitions and partnerships, new business wins, entering new business segments and the company’s expanding product portfolio.

“Grede has made several strategic decisions over the past four years that have been the catalyst for our growth. This includes making seven acquisitions, winning new business programs and expanding overseas through technical alliances,” said Doug Grimm, chairman, president and CEO of Grede Holdings LLC.

Through a combination of Grede’s manufacturing facilities in North America and its alliance partners Georg Fischer (Europe and China) and Riken (Japan and Southeast Asia), Grede is now the first global supplier of ductile iron parts in the industry. These international alliances, combined with organic growth, acquisitions and new business wins have allowed Grede to more than quadruple its revenue since 2009.

“Our overall philosophy here at Grede has been to harness the ‘best-of-the-best’ in terms of people, assets and technologies in order to provide an unparalleled array of products and capabilities to our global customers in the iron castings market,” said Grimm. “Grede’s revenue growth is a clear result of not only our philosophy in action, but also the efforts of our exceptional employees and dedicated customers. This combination has made Grede one of the leading foundry businesses in the world.”

About Grede Holdings LLC

Grede Holdings LLC was formed in 2010 through the combination of assets of the former Grede Foundries, Inc., Blackhawk Foundry (USA), and Citation Corporation. With estimated annual revenues exceeding $1 billion, the Grede legacy dates to 1920 when William J. Grede founded Grede Foundries, Inc. with an iron foundry in Wauwatosa, Wis. Privately-held with headquarters in Southfield, Mich., the company specializes in high quality ductile, gray and specialty iron castings, including lost foam and high silicon molybdenum applications. Grede Holdings LLC has 4,500 employees and operates 14 foundries and three machining operations in North America serving the transportation and industrial markets globally.

 



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