Hodge Foundry sale complete

Metso Minerals, a division of Finland-based Metso Corp., completed its sell-off of the Hodge Foundry operation in Greenville, PA.

The buyers are local managers, the Hodge family, and the Pittsburgh investment group Commonwealth Capital. The transaction price has not been announced.

Hodge Foundry Inc. employs 90 persons. It produces large ductile and gray iron speciality castings weighing up to 78 metric tons, with annual output of up to 16,000 metric tons.

The foundry will continue supplying Metso Minerals with castings for large grinding mills, and produces castings for power-generating equipment, steel industry mill rolls, paper machinery, and machine tools.

Metso Corp. is a worldwide manufacturer of industrial machine systems. Metso Minerals, its rock and mineral processing organization, decided to sell its non-core assets last December. Hodge Foundry became part of Metso through the latter's September 2001 acquisition of Svedala Industri AB.