Wisconsin Aluminum Foundry confirms expansion project

An $11 million grant from a nongovernmental organization (NGO) is helping ensure Wisconsin Aluminum Foundry (WAF), an aluminum and red metal castings producer, will complete an expansion project in Manitowoc, Wisconsin.

Lansing, Michigan-based Cinnaire, a community-focused investor and lender operating in the Midwest, has provided an $11 million New Markets Tax Credit (NMTC) investment to WAF, saying the grant will help the firm provide aluminum- and copper-based alloy castings for a range of industries.

The award comes about one year after WAF initially announced its expansion plans in Manitowoc.

The $11 million NMTC will help WAF as it undertakes its effort to build a 50,000-square-foot foundry and 12,000 square feet of renovated office space, meeting what Cinnaire calls “growing demand for nonferrous metal foundry products [using] advanced processes.”

“We see how high-quality employment like what we offer can transform lives and we make extra effort to ensure that our jobs are accessible to people of all types and backgrounds,” says Sachin Shivaram, CEO of WAF.

“NMTCs will play a huge role in helping us continue to be the type of employer that our community has relied on: One that offers high-quality employment and goes the extra mile to help make these great jobs accessible to low-income individuals.”

WAF is a century-old family-owned company that “cares deeply about the well-being of its employees and that’s evidenced by the company’s strong compensation, good benefits and job security.” Cinnaire says its investment will only bolster that commitment.

“Cinnaire is committed to working alongside mission-driven partners who share our vision for creating pathways for individuals with limited financial resources to attain upward economic mobility," says Peter Giles, Cinnaire senior vice president of public funding.

“Wisconsin Aluminum Foundry prioritizes a people-first culture and is guided by their deep commitment to creating an environment which assists people in growing and contributing. The expansion of the foundry demonstrates how the NMTC program serves as a driving force creating jobs and building brighter futures through economic empowerment.”

The WAF project will be completed in two phases: The industrial component, which is new construction, will be completed next March, while the office remodel will finish in October 2024.

“This investment doubles down on Cinnaire’s commitment to transform communities through capital investments and development solutions, keeping the manufacturing heartbeat of Manitowoc beating,” Cinnaire says.

In addition to Lansing, Cinnaire has offices in Detroit and Grand Rapids, Michigan; Milwaukee and Maidson, Wisconsin; Wilmington, Delaware; Chicago; and Indianapolis.

WAF says the project allows the company to expand its permanent-mold casting capacity for both tilt/static and low-pressure hot metal pouring, and allow it to install new work cells for finishing cast parts.

In addition to Manitowoc, WAF has locations in Wabash, Indiana, and Crookston, Minnesota.