Contech U.S., LLC and two affiliates (MAG Contech, LLC and Contech, LLC) filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the Eastern District of Michigan on January 30, 2009. Collectively, the companies operate a leading light metals die casting and machining company. The companies are organized into two main business units - the Casting Group, which the company states “has one of the widest ranges of die cast process technology in the industry, and the Steel Products Group, which the company asserts is a “leading full service supplier of safety critical suspension and exhaust systems to the heavy/commercial truck industry and automotive industry.”
Contech is headquartered in Portage, Michigan and employs 938 full-time employees in the United States at nine plants located in Indiana, Michigan, North Carolina, and Tennessee. The company generated revenues of $312 million in 2007, but expects revenues to decrease to approximately $223 million for 2008. The companies were sold by SPX Corporation in March 2007 to MAG Group Holdings, LLC for $146 million.
