Developer Eyes Ex-Amcast Plants

In the US, property developer Bill Bean is close to acquiring the two Indiana factories closed last April by Amcast, putting 500 workers out of a job. The factories made wheels for General Motor’s Corvette and light trucks and were shut down after Amcast failed to agree terms with GM, which was undergoing substantial financial restructuring.

Bean’s track record usually involves attracting multiple tenants, but there are press reports that talks have been on-going with Asian companies looking to manufacture wheels in the USA. However, Bean is keen to play down the story, not wishing to raise the hopes of the sacked workers unduly.