Foundry will be auctioned

By Ken Leiviska
Times-Press

REEDSBURG — If everything goes according to plan Grede Foundries will be under new ownership by the end of the calendar year. That should be good news for everyone, according to Grede Board Chairman Richard Koenings.

Grede, which filed for Chapter 11 reorganization in June due to a stumbling economy and a hurting auto industry, has requested the federal bankruptcy court to approve a timeline for auction of the company by the middle of November. The timeline includes the auction's end by early December and a closed deal by Dec. 31, 2009.

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