Aug. 3—VERNON TOWNSHIP — Advanced Cast Products iron foundry officially has a new owner.

Grede, a privately held firm based in Southfield, Michigan, announced Monday it had completed its purchase of the plant located just outside of Meadville.

Grede bought Advanced Cast Products from Neenah Enterprises Inc., another privately held firm in Neenah, Wisconsin.

Terms of the deal, which was first announced last month by the two companies, weren't disclosed.

Advanced Cast Products, which makes ductile iron and austempered ductile iron castings, has approximately 250 employees at its plant in the Kerrtown section of Vernon Township. There are 220 workers on the manufacturing floor with another 30 in administration and office jobs, according to Ann Pedersen, a Grede spokeswoman. No changes in employment are planned.

Grede designs and manufactures ductile, gray and specialty iron castings for automotive, commercial and industrial markets.

"By completing this acquisition, Grede's capabilities and manufacturing footprint will expand and further our leadership position within the industry," Cary Wood, Grede's chief executive officer, said in a statement Monday. "This acquisition is a central part of Grede's strategy to provide our customers the benefit of increased capacity and flexibility, innovative engineering resources and the combined talents of our exceptional teams."

In addition to the Advanced Cast Products plant in Vernon Township, Grede also purchased Neenah's heavy truck business as part of the deal.

Grede plans to move Neenah's commercial vehicle book of business into Grede's other existing plants in Brewton, Alabama; New Castle, Indiana; Reedsburg, Wisconsin; and St. Cloud, Minnesota, during the next 12 months.

Keith Gushard can be reached at (814) 724-6370 or by email at kgushard@meadvilletribune.com.