Metal Bulletin
Magnode to halt casting, source Hydro billet
Edited by : AL CIRCLE
1 min read
Magnode Corp. will shut its on-site casthouse by year’s end and begin sourcing billet for its extrusion presses from Hydro Aluminum North America Inc. instead, sources familiar with the operation told AMM.
Executives at Magnode did not return calls for comment, but one source familiar with the deal said the decision to close Magnode’s 15,000-tonne-per-year casting operation was likely cost-related.
"When you’re operating a casthouse at well below its capacity, the cost is pretty significant," he said. "They were probably able to get billet from Hydro more cheaply than they could produce themselves."
The Trenton, Ohio-based aluminum company’s extrusion operations will remain open. Magnode’s extrusion presses—which include a 4,500-ton press and a 2,400-ton press, according to its Web site—supply the automotive, building and construction, consumer electronics and defense industries.
Executives at Magnode did not return calls for comment, but one source familiar with the deal said the decision to close Magnode’s 15,000-tonne-per-year casting operation was likely cost-related.
"When you’re operating a casthouse at well below its capacity, the cost is pretty significant," he said. "They were probably able to get billet from Hydro more cheaply than they could produce themselves."
The Trenton, Ohio-based aluminum company’s extrusion operations will remain open. Magnode’s extrusion presses—which include a 4,500-ton press and a 2,400-ton press, according to its Web site—supply the automotive, building and construction, consumer electronics and defense industries.
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