News and Updates


(May 19, 2016) - Supplier/Vendor FAQ

If you are a Supplier to Columbus Castings this Supplier/Vendor FAQ.pdf will address any questions you may have.


(May 16, 2016) - Constellation Enterprises LLC Implements Debt Restructuring

PRESS RELEASE

CONSTELLATION ENTERPRISES LLC AND ITS SUBSIDIARIES IMPLEMENT DEBT RESTRUCTURING; FACILITATED VIA VOLUNTARY CHAPTER 11 FILING

OPERATIONS TO CONTINUE AT COMMERCIAL METAL FORMING, JORGENSEN FORGE CORPORATION, AND ZERO MANUFACTURING

Youngstown, OH – May 16, 2016 – Constellation Enterprises LLC (“Constellation”), the parent holding company of four industrial subsidiaries – Commercial Metal Forming (“Commercial”), Jorgensen Forge Corporation (“Jorgensen”), Columbus Castings (“Columbus”), and Zero Manufacturing (“Zero”) (collectively, the “Subsidiaries”) – today announced that it has filed voluntary petitions for Chapter 11 of the U.S. Bankruptcy Code in order to restructure its debt obligations. The Subsidiaries, which are guarantors and borrowers of the debt held by Constellation, are included in the filing and will continue to operate uninterrupted, with the exception of Columbus Castings which will temporarily halt production during this process as it pursues a sale of the business.

The Group has suffered from significant operational issues at Columbus as well as the effects of weakness in the Oil & Gas and Industrial Manufacturing sectors across the Subsidiaries. These issues stressed the Group’s liquidity and challenged a balance sheet already burdened with high leverage.

This proceeding will enable Constellation to implement a financial restructuring that will bring its debt in line with current market conditions. During this period, Commercial, Jorgensen and Zero will continue to operate, uninterrupted, with no change in employment, in the normal ordinary course. Customers can expect to receive products and services as before, and vendors and suppliers will be paid for products and services received post the filing date in the ordinary course.

“The pursuit of this process is a positive step that is in the best interests of Constellation and its Subsidiaries, employees, customers, suppliers and other constituents,” said Donald MacKenzie, Constellation Enterprises’ Chief Restructuring Officer. “The businesses will emerge with a healthier balance sheet and be in a stronger position to meet the needs of their customers.”

William Lowry, Chief Financial Officer of Constellation, added: “We greatly value the ongoing loyalty and support of our employees. Their dedication and hard work are vital to the future of the Constellation. I would also like to acknowledge the importance of the continuing support of our customers, suppliers and business partners during this process.”

Constellation expects to move through this restructuring process very quickly. To provide liquidity for Commercial, Jorgensen, and Zero to operate as normal during this time, a group including the holders (“Noteholders”) of Constellation’s Senior Secured Notes have committed to providing Debtor-in-Possession financing to the Group. In addition, the Noteholders have also provided a bid to purchase substantially all of the assets of Commercial, Jorgensen, and Zero under Section 363 of the U.S. Bankruptcy Code. This acquisition will allow these businesses to emerge from this process with substantially less debt and position them for long-term success. Constellation has also received a letter of intent from an interested party for the acquisition of the assets of Columbus Castings under Section 363 of the U.S. Bankruptcy Code.

The Noteholders’ proposal would be subject to certain conditions, including execution and delivery of a mutually satisfactory definitive asset purchase agreement as well as bankruptcy court approval. Constellation will also solicit competing bids from other potential purchasers and conduct a sales process approved by the bankruptcy court.

Donald S. MacKenzie, of Conway MacKenzie, Inc, is serving as the Company’s Chief Restructuring Officer and Kramer Levin Naftalis & Frankel LLP and Richards, Layton & Finger P.A. are serving as legal advisors.

Additional information, including court filings and other documents related to the restructuring, can be found by visiting http://dm.epiq11.com/COE.

Company Descriptions

Commercial Metal Forming is a leading manufacturer of tank head and tank head accessories, focused on providing highest quality standards and unparalleled Customer Service on on-time delivery, lead-time, quote responsiveness.

Jorgensen Forge Corporation manufactures highly engineered, specialty alloy, open die forgings from high value titanium, aluminum, and steel alloy materials.

Zero Manufacturing manufactures deep-drawn and fabricated aluminum cases, molded plastic cases, enclosures, and assemblies.

For further information, please contact:

Jennifer E. Mercer
Epiq Strategic Communications for Constellation Enterprises LLC
310-712-6215
jmercer@epiqsystems.com


(May 16, 2016) - Columbus Castings Receives Letter of Intent to Effectuate Sale

PRESS RELEASE

COLUMBUS CASTINGS RECEIVES LETTER OF INTENT TO EFFECTUATE SALE; Transaction to be Facilitated Via Previously Announced Chapter 11 Filing

Columbus, OH – May 16, 2016 – Columbus Castings (“Columbus” or the “Company”), a premier North American supplier of large, complex, steel castings for the rail and industrial sectors, today announced that it has received a letter of intent from a third party for the acquisition of its assets under Section 363 of the U.S. Bankruptcy Code. The contemplated transaction would be subject to certain conditions, including execution and delivery of a mutually satisfactory definitive asset purchase agreement as well as bankruptcy court approval. As previously reported, Constellation Enterprises LLC (“Constellation”), the parent holding company of Columbus, had recently filed voluntary petitions for Chapter 11 of the U.S. Bankruptcy Code in order to restructure its debt obligations. Constellation’s subsidiaries, including Columbus, which are guarantors and borrowers of the debt held by Constellation, are included in the filing.

Columbus Castings has temporarily halted production during this restructuring process while it pursues a sale of the business. If consummated, the buyer intends to preserve Columbus’ continuing ability to service its customer base as well as infuse significant capital into the Company. A successful sale will allow Columbus to emerge from this process with substantially less debt and the much needed fresh investment capital.

“Columbus is determined to continue to support its customers. We continue to ship from inventory, having shipped much of our products to meet customer needs prior to our temporary production hiatus.” said Gary Bernhardy, Interim Chief Executive Officer of Columbus Castings. “We firmly believe that a successful sale process will allow the Company to emerge stronger and healthier, and better positioned once again to provide high quality products and services that our customers and industry expect from us.”

To facilitate completing the sale and restarting halted operations, Columbus Castings maintains an active and visible 24/7 presence for maintenance and security activities. Columbus will seek to move through the restructuring and sale processes quickly so that a new buyer may reengage the operations and provide necessary capital investments. While no assurances can be given that a sale transaction will be consummated, upon a sale of the Company many employees who have been placed on temporary layoff status in recent weeks will be expected to be recalled for work.

Additional information on the restructuring, including court filings and other documents related to the restructuring, can be found by visiting http://dm.epiq11.com/COE.

Company Description

Columbus Castings manufactures large steel castings for the freight rail, passenger rail, and heavy-duty industrial end markets.

For further information, please contact:

Jennifer E. Mercer
Epiq Strategic Communications for Constellation Enterprises LLC
310-712-6215
jmercer@epiqsystems.com


(May 23, 2014) - Columbus Castings has learned how to survive and thrive in challenging market

The metal casting industry has been one of the hardest hit by competition from China and India, but some companies have been able to survive and even prosper despite the combined onslaught of intense offshore competition and the Great Recession. That has now put them in the position to benefit from reshorint trend.

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(November  15, 2013) - Columbus Castings to add 50 jobs after landing Amtrak supplier order

Columbus Castings has landed the largest order in its 130-year history. A deal with Nippon Sharyo USA Inc. for railcar undercarriages could be worth up to $70 million to the manufacturer and will add more than 50 jobs at the South Side Columbus steel foundry.

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Columbus Castings supports the families and community of Newtown

 



(Fall 2012) - Columbus Castings profile in Manufacturing Today

As the largest steel foundry in North America, Columbus Castings is leading the charge to bring manufacturing back to America.

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(October 10, 2012) - Columbus Castings celebrated our 110th anniversary!

Celebrating 110 years in business this year, Columbus Castings has a rich, historical legacy as American's largest steel foundry.

read more about our company's long and storied history

view images from our celebration

 


(October 4, 2012) - Sherrod Brown visits Columbus Castings

Brown talks trade at Columbus Castings

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(May 6, 2012) - Columbus Castings welcomes our new Vice President of Operations, Randy Parish

We are excited and very pleased to announce that Randy Parish has joined Columbus Castings as our Vice President of Operations. Randy will oversee all production operations in all five of our Strategic Business Units. He comes to us with over 20 years of large scale manufacturing excellence experience with an excellent track record in the deployment of the latest lean methodologies.