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News » Neenah Foundry files for bankruptcy
Feb. 4, 2010
One of Neenah's largest employers is voluntarily filing for bankruptcy.
Neenah Foundry's parent company made that announcement today, and officials say they'll conduct "business as usual" while they re-organize their finances.
Neenah Mayor George Scherck says about 800 people work at Neenah Foundry, and it's good news that it appears the employees won't be affected. But he says it's bad news that the company is having some economic problems.
Scherck say the foundry is a crucial part of the city's economic vitality.
The company filed for bankruptcy in order to reduce its debt by $220 million. The president and CEO of Neenah Foundry says they'll emerge from the reorganization "stronger than ever" and more financially sound. |
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