Alcast Company Aluminum Foundry Stands Strong!
The current recession has been and continues to be very difficult for many manufacturing companies. It appears that those companies toward the end of the sourcing chain, such as aluminum foundries, have had to bear the worst of the decline. As the President of Alcast Company I am here to ensure that all businesses which currently have a relationship with Alcast Company and those considering a relationship with us have confidence in our ability to ride out this storm.
Alcast Company has maintained an extremely strong financial position through conservative business practices during our 40 years of existence. We began the year 2009 with nearly $12 million in stockholders’ equity, a current ratio of 5.5, and a debt-to-equity ratio of only 0.1. This financial strength will allow the Alcast Company’s aluminum foundry to survive extended manufacturing declines. Alcast Company hires independent accountants to perform a financial audit annually, and we are happy to share portions of this report with customers and suppliers when requested. Our aluminum foundry has always paid suppliers in net 30 day terms and we plan to continue with those terms indefinitely.
Some of the business practices that have and will continue to make our aluminum foundry stand strong and succeed include the following:
- Manufacturing and maintaining proprietary casting and core machines.
- Hiring highly skilled maintenance personnel to ensure machinery is properly maintained, repaired quickly, and downtime is minimized.
- Maintaining a safe work environment resulting in a .76 NCCI experience mod.
- Continuously improving our production processes.
During this recession we are not sitting by and waiting for the storm to pass. We are actively improving our company to ensure we come out of this decline as soon as possible, and stronger than ever! We are investing in expanding our capabilities, optimizing the efficiency of our processes, and improving safety.
These business practices will result in Alcast Company’s continued financial success and will allow us to come out of this recession in a better position to meet the needs of our customers.
Steve Wessels
President of Alcast Company Aluminum Foundry
Peoria, Illinois, USA