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Columbus Castings Files for Chapter 11 Bankruptcy
05/18/2016 - America’s largest single-site foundry and its parent company have filed for bankruptcy protection and the plant is to be sold to an unidentified buyer, according to Dow Jones Daily Bankruptcy Review.
According to the news service, Columbus Castings and parent Constellation Enterprises entered bankruptcy after losing US$15 million on a furnace breakdown. The breakdown resulted in a six-week outage that halted shipments of castings for railcars, locomotives, mining equipment and construction equipment, the news service reported.
The full story can be found here. The company’s announcement is here.
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