Business Rescue Practitioners confirm sale of Eclipse Foundry and Standard Foundry

Union Junction in Germiston under pressure.

The Business Rescue Practitioners involved in trying to save Cast Products South Africa (CPSA) have confirmed the sale of Eclipse Foundry and Standard Foundry to GeT Metals Group.

“Thank you for your below email and for reaching out to us for comment. In respect of the Standard Foundry, you are correct, it was sold to the GeT Metal Group, the same company that recently purchased Eclipse Foundry, commented John Essey of Engaged Business Rescue.”

“We view these transactions as incredibly positive news as the Standard Foundry plant had been previously mothballed for a number of years. Following the recent conclusion of the sale of Eclipse Foundry, engagement with our internal stakeholders will commence, and this may see a significant percentage of employees being accommodated within the business, which consequently means the continued employment of some employees and retention of the required skills by CPSA and industry.”

“When questioned about the closure for three months of the two foundry plants on the Scaw facility in Germiston Essey replied: “In respect of the Union Junction, the plant is not closed or closing, production has been halted due to a key client not being able to take delivery of the products produced at the plant. The business rescue practitioners of CPSA are in ongoing discussion with this key client, who have been a valued customer of CPSA for several years, in order to reach a solution on the delivery of products produced and in order to facilitate the re-commencement of production. These discussions are ongoing, productive and we hope to reach resolution shortly.”