NEENAH ENTERPRISES SIGNS AGREEMENT TO SELL ADVANCED CAST PRODUCTS TO GREDE

FOR IMMEDIATE RELEASE

NEENAH ENTERPRISES SIGNS AGREEMENT TO SELL ADVANCED CAST PRODUCTS TO GREDE

Sale includes Neenah Foundry’s heavy truck business

NEENAH, WI, July 20, 2021 Neenah Enterprises, Inc. (NEI), one of the nation’s largest independent foundry companies, today announced it has signed a definitive agreement to sell its Advanced Cast Products (ACP) business in Meadville, Pennsylvania, and the heavy truck business of Neenah Foundry to Grede, a leading manufacturer of high quality cast and machined iron parts headquartered in Southfield, Michigan. The terms of the agreement have not been disclosed. The sale is expected to close in the third quarter of 2021, pending final agreement.

The sale includes all approximately 250 ACP employees, who will become Grede employees once the sale is closed. The sale does not include employees of Neenah Foundry or other affiliates outside of ACP in Meadville.

As part of our vision to be a forward-thinking company that drives innovation and delivers customer value, Neenah Enterprises focuses our business on pursuing smart growth opportunities for our company, our employees, our customers, and our communities that drive our future collective success, said Tom Slabe, President and CEO of Neenah Enterprises, Inc. Neenah is exiting the heavy truck market and our products are a perfect match for Gredes’ light vehicles, trucks and industrial business portfolio. We are confident that our customers and ACP employees will be in very good hands at Grede.

The sale of ACP and its heavy truck business is part of NEI’s focused strategy to expand the company’s infrastructure business, potential new lines, equipment, upgrades and maintain a more focused industrial activity with customers in agriculture, construction, defense, material handling and mining industries. Focusing on these more stable markets is an integral part of the company’s long-term strategy and will allow the company to better align capacity with demand and reduce volatility.

About Neenah Enterprises, Inc.

Neenah Enterprises, Inc., is one of the most comprehensive infrastructure and industrial manufacturers in North America and is one of the largest independent foundry companies in the U.S. The company serves the infrastructure market and the agricultural, construction, defense, materials handling and mining industries . NEI produces gray and nodular cast iron. The company’s most recognizable products include manhole covers and frames, drainage gates and cast iron ditches in roads and runways at airports across America and internationally. NEI currently operates facilities in the US, including Advanced Cast Products in Meadville, PA.; Deeter Foundry in Lincoln, NE; Neenah Foundry in Neenah, WI.; Morgans Welding in Myerstown, PA.; and Reliance Foundry in Surrey, British Columbia. For nearly 150 years, NEI’s dedicated professionals have provided technical solutions to complex problems for our customers and our communities. Additional information about NEI is available on the company’s website at www.nfco.com.

###

Media contact

Alex Warren, Director of Marketing and Communications

248-703-9194

[email protected]