Neenah Foundry Co. said late Tuesday that its board of directors has decided to end plans to sell the company, the firm said when announcing results for fiscal 2005. The company said that it will instead focus on its business plan and explore other alternatives to reduce costs and expand capacity in selected markets.
The Neenah-based provider of heavy municipal and industrial iron castings and steel forgings had hired investment bank Citigroup Global Markets Inc. in late July to explore sale or merger options for the company or a significant portion of its assets or common stock.
