Chattanooga's Eureka Foundry to close after 121 years of operation

After 121 years of operation, Chattanooga's oldest family-owned foundry plans to cease operations by the end of September, leaving a handful of foundries in a region that once had more than 50 metal castings and foundry operations employing thousands of local workers.

Eureka Foundry Co., which has operated continuously near downtown Chattanooga since 1902, gave its 41 remaining employees notice Wednesday of the plant shutdown. Fred Hetzler Jr., the fourth-generation president of the family-owned company, said he and his brothers were unable to find a buyer for the business, and maintaining the aging factory at 1601 Carter St. is proving increasingly challenging.

"We had hoped to find a buyer and they had a couple that were interested last year, but for various reasons, they decided not to buy," Hetzler said in a telephone interview. "Both of my brothers and I are getting up in years, and they ultimately felt that the only option left was to close the foundry down."

Eureka submitted the required 60-day notice of the business shutdown Wednesday under the requirements of the Worker Adjustment and Retraining Notification Act, which triggers a number of state and local efforts to help displaced workers find other jobs or qualify for retirement or jobless benefits.

— Wheland Foundry, once the largest independent automotive foundry in the nation, whose parent company once employed more than 2,000 employees, closed its plant on the Southside in 2003 after operating for 129 years.

— U.S. Pipe & Foundry, which traces its roots to the Chattanooga Pipe and Foundry Works started in 1877, closed its Southside plant in 2006 and sold its operations to Mueller Water Products, cutting nearly 350 jobs.

— Waupaca Foundry cut 540 jobs last year when it idled most of its 21-year-old automotive foundry in Etowah, Tennessee.

Surviving foundries

— Lodge Manufacturing in South Pittsburg has expanded three times in the past 12 years and now employs about 600 workers.

— Mueller Co., which purchased the former Columbia Iron Works in Chattanooga in 1933, continues to operate local foundries and plants in East Chattanooga and in Cleveland, Tennessee.

— Athens Plow Co., founded in 1921, continues to produce 22 different models of tillage tools.

— Acheson Foundry & Machine Works, founded in 1899, continues to operate a foundry on 38th Street.

— Chattanooga Pattern & Foundry, founded in 1959, still operates on Stuart Street.

Seventh closure

Eureka is the seventh manufacturer to either close or announce plans for a plant closing in the Chattanooga region so far in 2023. Collectively, the plant shutdowns this year will end up cutting almost 1,000 jobs and come just a year after the Waupaca Foundry cut 540 jobs in Etowah, Tennessee, in June 2022.

"We are sad to see a plant closure in their region," Chattanooga Area Chamber of Commerce President Charles Wood said in a statement Wednesday. "Economies are fragile, and situations like this serve as reminders that economic development should be a continuous commitment by their community's leadership to constantly build a resilient economy for Chattanooga area residents."

Despite the plant closings, unemployment in Chattanooga hit a record low in April and remains below the national jobless rate with nearly three job openings listed for every unemployed person still seeking work, according to the Tennessee Department of Labor.

In Southeast Tennessee, seven manufacturing plants have closed or are planning to close so far in 2023, collectively cutting 933 jobs.

— Shaw Industries in Decatur, Tennessee, is closing by Aug. 29, cutting 336 jobs.

— Volkswagen provider ThyssenKrupp closed in May, cutting 156 jobs.

— Beiersdorf Manufacturing in Cleveland, Tennessee, closed in April, cutting 140 jobs.

— National Seating & Mobility is closing this week, cutting 108 jobs.

— Arcade Beauty in Chattanooga is closing by Aug. 31, cutting 84 jobs.

— Volkswagen provider Grupo Antolina closed in May, cutting 68 jobs.

— Eureka Foundry in Chattanooga will close by Sept. 2, cutting 41 jobs.

Source: Tennessee Department of Labor and Workforce Development, WARN notice filings

Union shop

Hourly foundry workers at Eureka are represented by the U.S. Steelworkers Local 53. The company has been a union shop since it was founded by Fred Hetzler's great grandfather, Patrick Delaney, who was a member of the molders union in Cincinnati.

Delaney first came to Chattanooga in 1886 for a general manager job at Ross Meehan Foundry and 18 years later decided to start his own foundry.

As a railroad hub and manufacturing-based city, Chattanooga developed as a leading foundry town, and Eureka became one of more than 50 foundries and machine shops that ultimately operated in Chattanooga by the 1950s.

Foundry cutbacks

But as many manufacturers moved overseas, air pollution rules tightened and many automotive and consumer products shifted away from heavier metals in favor of lighter plastic and aluminum, most of the iron and steel foundries that once operated in and around Chattanooga have shut down.

Wheland Foundry, which once operated the nation's biggest independent automotive foundry, shut down its South Chattanooga plant two decades ago, and other major foundries — U.S. Pipe & Foundry, Waupaca Foundry and Rockwell International — subsequently closed or consolidated their local plants with other facilities.

Ross Meehan also shut down its Southside foundry in 1980, but Eureka bought the shuttered foundry and has operated the 215,958-square-foot complex ever since, making primarily water valve parts and other specialty products for U.S. Pipe & Foundry, Tyler Pipe and other manufacturers.

Aging plant

"This is an old plant, and just the upkeep on this facility puts us in a relatively poor competitive situation," Peter Hetzler, vice president and plant manager at Eureka, said in a phone interview. "We're spending all of their money trying to keep the roof on this building and keeping everything wired together."

The roof of the sprawling plant at 1601 Reggie White Blvd. covers most of the 7.5-acre site and was damaged and subsequently repaired after a wind storm a couple of years ago, Hetzler said.

With all three of the Hetzler brothers who own the company now in their 70s and none of their children still working in the business, Fred, Peter and Chris Hetzler decided it was time to proceed with an orderly shutdown of the aging foundry.

The current generation of owners grew up working at the foundry when their father, the late Fred Hetzler Sr., who was married to Delaney's granddaughter, Mary Margaret, was in charge. Fred and Mary Margaret Hetzler had purchased the foundry from her brother, Joseph Delaney, and sister, Ann Mahoney.

Lasting legacy

Over the years, Eureka has made castings for a variety of customers across the nation. One hometown customer is the National Park Service, which depended on Eureka to make the raised-letter signs that chronicle Civil War action throughout the Chickamauga & Chattanooga National Military Park.

"You can still see the name Eureka Foundry on stormwater drainage grates along many of the streets in older sections of Chattanooga," Hetzler said.

As an essential business, Eureka has operated continuously through its history, including during the pandemic.

Once Eureka completes its final foundry orders and shuts down the plant, Hetzler said the owners will look to sell the 7.5-acre downtown plant site between Reggie White Boulevard and Highway 127.

Forged in metal

According to government figures, metal castings are found in 90% of durable goods, including motor vehicles, aerospace, trains, mining and construction equipment, oil wells, appliances, pipes, hydrants, wind turbines, nuclear plants, medical devices, defense products, golf clubs, office chairs, cast iron pans and even toys. But with lighter-weight materials and greater automation and production efficiency, the number of foundry workers continues to decline in the U.S.

Four decades ago, there were more than 3,400 ferrous and nonferrous foundries employing 444,827 workers across the United States. But by 2018, the U.S. Bureau of Labor Statistics said the number of foundries had shrunk in the U.S. nearly in half to 1,811 foundries. Employment in the industry was down by 73% from 1984 levels to just 120,919 workers in 2018, and layoffs since have further reduced that number.

With the closing of the Eureka Foundry, only a handful of foundries will still operate in Southeast Tennessee. But the region still stamps out valves and water products at Mueller Co. and is home to the oldest and longest-running cast iron manufacturer in the United States at Lodge Manufacturing Co. in South Pittsburg. In 2021, Lodge began a $59 million plant expansion that added nearly 240 jobs.

Contact Dave Flessner at dflessner@timesfreepress.com or 423-757-6340.

Global Foundry Coke Market [2023-2030] | Report Forecasts Bright Future for Industry, Predicted to Reach USD 392.43 Million - Benzinga

Revolutionary New Findings Uncovered in the Latest Report.

The Global Foundry Coke Market Outlook [2023-2030] -

Get a demo Copy of the Foundry Coke Market Report

Global Foundry Coke Market [2023-2030] research report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, threats, and global markets including progress trends, competitive landscape analysis, and key regions' expansion status. This report is a comprehensive numerical analysis of the Foundry Coke Sales industry and provides data for making strategies to increase market growth and success. Foundry Coke Sales Market finds essential elements of this market in light of the present enterprise, this market requests, business methodologies used by Foundry Coke Sales Market players, and the future prospects from different edges in detail.

With tables and figures helping analyze worldwide Global Foundry Coke market trends, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

Get a demo PDF of the Report at- https://www.researchreportsworld.com/enquiry/request-sample/21366017

Key Players in the Global Foundry Coke Market Covered in Chapter 9:

Erie Coke Henan Shenhuo Shanxi Huifeng Xingye Group Shandong Coking Group ABC Coke (Drummond) Nippon Coke and Engineering OKK Tonawanda Coke Jiangsu Surun Highcarbon Shanxi Coking Coal Group Shanxi Antai Shandong Sunshine Focal Electric

The global Foundry Coke market size was valued at USD 273.04 million in 2021-2022 and is expected to expand at a CAGR of 6.23% during the forecast period, reaching USD 392.43 million by 2030.

Coke is a fuel with a high carbon content and few impurities, usually made from coal. It is the solid carbonaceous material derived from destructive distillation of low-ash, low-sulphur bituminous coal. Cokes made from coal are grey, hard, and porous. While coke can be formed naturally, the commonly used form is synthetic. The form known as petroleum coke, or pet coke, is derived from oil refinery coker Tons or other cracking processes. Foundry Coke is a high-quality grade of coke vital for efficient cupola melting.

The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment markets by type, application and region, and, as a result, provides a holistic view of, as well as a deep insight into the Foundry Coke market covering all its essential aspects.

For the competitive landscape, the report also introduces players in the industry from the perspective of the market share, concentration ratio, etc., and describes the leading companies in detail, with which the readers can get a better idea of their competitors and acquire an in-depth understanding of the competitive situation. Further, mergers and acquisitions, emerging market trends, the impact of COVID-19, and regional conflicts will all be considered.

In a nutshell, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the market in any manner.

The Foundry Coke market research report is the outcome of comprehensive primary and secondary research. It offers a detailed analysis of the current and future objectives of the market, including a competitive analysis of the industry categorized by application, type, and regional trends. Additionally, the report presents a dashboard overview of the performance of the leading companies in the market, highlighting their past and present accomplishments. The research employs a variety of methodologies and analyses to provide precise and comprehensive information about the Foundry Coke Market.

Get a demo Copy of the Foundry Coke Market Report [2023-2030]

Global Foundry Coke Market is segmented into various types and applications according to product type and category. In terms of Value and Volume, the growth of the market is calculated by providing CAGR for the forecast period for years 2023 to 2030.

In Chapter 5 and Chapter 7.3, based on types, the Foundry Coke market from 2017 to 2030 is primarily split into:

Ash Content 8%

8% ¤ Ash Content ¤ 10%

Ash Content 10%

In Chapter 6 and Chapter 7.4, based on applications, the Foundry Coke market from 2017 to 2030 covers:

Machinery Casting

Material Treatment

Smelting industry

Others

Impact of the COVID-19 Pandemic on the Foundry Coke Market:

The Foundry Coke Market report analyses the impact of Coronavirus (COVID-19) on the Foundry Coke industry. Foundry Coke Market report explained the impact of the COVID-19 outbreak on the industry was fully assessed. Fully risk exam and industry recommendations were made for Foundry Coke in a special period. This report also compares the market of Pre COVID-19 and Post COVID-19. Also, the report covers the analysis of the impact of COVID-19 from the perspective of the industry chain.

The biggest highlight of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19. At the same time, this report analyzed the market of the leading 20 countries and introduce the market potential of these countries.

TO KNOW HOW COVID-19 PANDEMIC AND RUSSIA UKRAINE WAR WILL IMPACT THIS MARKET - REQUEST A SAMPLE

Market Overview:

The report provides a basic overview of the industry including definitions, classifications, and industry chain structure. The Foundry Coke market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions' development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand, price, revenue, and gross margins. The report focuses on major leading industry players providing information such as company profiles, product pictures and specifications, shipments, price, revenue, and contact information. The Foundry Coke industry development trends are analyzed.

The Foundry Coke market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive landscape, sales analysis, the impact of domestic and global market players, value chain optimization, trade regulations, exact developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations during the forecast period (2023-2030).

Some Questions by Clients and Their Answers:

- What inspired you to conduct this research?

We identified a gap in the existing knowledge and wanted to provide their clients with the latest insights and trends in the industry.

- What methodology did you use for this research?

We used a combination of quantitative and qualitative research methods, including surveys, interviews, and data analysis.

- What were the key findings of the research?

Our research revealed several key trends and insights.

- How do these findings impact their business/industry?

The findings have several implications for businesses in this industry.

Get a demo Copy of the Foundry Coke Market Report 2023-2030

Foundry Coke Market Scenario by 2030 -

The Foundry Coke market report includes a descriptive overview of Foundry Cokes, covering their applications, advantages, limitations, and more. In addition, the report provides an extensive account of the currently available Foundry Coke that will impact the future market of Foundry Cokes.

The report contains a detailed review of the Foundry Coke market, encompassing historical and forecasted market size. This information will provide an edge for developing business strategies by understanding the trends shaping and driving the Foundry Coke market.

The Global Foundry Coke Market (2023-2030) report offers an in-depth analysis of the global Foundry Coke market, including a detailed description of market sizing and growth. The report analyzes the global Foundry Coke market by value and region, providing regional analysis for various regions such as the US, Europe, Japan, China, and India.

Moreover, the report assesses the key opportunities in the market and outlines the factors driving the growth of the industry. The report forecasts the growth of the overall global Foundry Coke market for the period 2023-2030, taking into consideration the previous growth patterns, growth drivers, and current and future trends.

Enquire before purchasing this report - https://www.researchreportsworld.com/enquiry/pre-order-enquiry/21366017

Regions and Countries Level Analysis -

Regional analysis is another highly comprehensive part of the research and analysis of the global Foundry Coke market presented in the report. This section sheds light on the sales growth of different regional and country-level Foundry Coke markets. The research report provides a detailed and accurate country-wise volume analysis and region-wise market size analysis of the global Foundry Coke market.

Geographically, the report includes research on production, consumption, revenue, market share, and growth rate, and forecast (2017-2030) of the following regions:

Reasons to Buy this Foundry Coke Market Research Report -

Comprehensive Coverage - Their report provides a descriptive overview of Foundry Cokes, including their applications, advantages, and limitations. It also covers historical and forecasted market size, providing an edge for developing effective business strategies.

In-depth Analysis - The report offers an extensive account of the currently available Foundry Coke, assessing key opportunities and outlining the factors driving the growth of the industry. It also provides a detailed analysis of the global Foundry Coke market by value and region, including regional analysis for various regions such as the US, Europe, Japan, China, and India.

Timely Insights - The report takes into consideration the impact of the COVID-19 pandemic and the Russia-Ukraine conflict on the Foundry Coke industry, providing a timely understanding of the latest market trends and future growth potential.

Marketing Advantage - By leveraging their report's insights, you can gain a marketing advantage by understanding the trends shaping and driving the Foundry Coke market. This knowledge can help you position your business strategy to capitalize on the opportunities presented by the Foundry Coke industry.

Trusted Source - Their report is based on extensive research and analysis, and their team of experts has a proven track record of delivering reliable and accurate market insights. By purchasing their report, you can be confident that you are getting the most up-to-date and trustworthy information available.

Purchase this report (Price 3250 USD for single user license) - https://www.researchreportsworld.com/purchase/21366017

Table of Content:

1 Foundry Coke Market Overview 1.1 Product Overview and Scope of Foundry Coke Market 1.2 Foundry Coke Market Segment by Type 1.2.1 Global Foundry Coke Market Sales Volume and CAGR (%) Comparison by Type (2017-2027) 1.3 Global Foundry Coke Market Segment by Application 1.3.1 Foundry Coke Market Consumption (Sales Volume) Comparison by Application (2017-2027) 1.4 Global Foundry Coke Market, Region Wise (2017-2027) 1.4.1 Global Foundry Coke Market Size (Revenue) and CAGR (%) Comparison by Region (2017-2027) 1.4.2 United States Foundry Coke Market Status and Prospect (2017-2027) 1.4.3 Europe Foundry Coke Market Status and Prospect (2017-2027) 1.4.4 China Foundry Coke Market Status and Prospect (2017-2027) 1.4.5 Japan Foundry Coke Market Status and Prospect (2017-2027) 1.4.6 India Foundry Coke Market Status and Prospect (2017-2027) 1.4.7 Southeast Asia Foundry Coke Market Status and Prospect (2017-2027) 1.4.8 Latin America Foundry Coke Market Status and Prospect (2017-2027) 1.4.9 Middle East and Africa Foundry Coke Market Status and Prospect (2017-2027) 1.5 Global Market Size of Foundry Coke (2017-2027) 1.5.1 Global Foundry Coke Market Revenue Status and Outlook (2017-2027) 1.5.2 Global Foundry Coke Market Sales Volume Status and Outlook (2017-2027) 1.6 Global Macroeconomic Analysis 1.7 The impact of the Russia-Ukraine war on the Foundry Coke Market

2 Industry Outlook 2.1 Foundry Coke Industry Technology Status and Trends 2.2 Industry Entry Barriers 2.2.1 Analysis of Financial Barriers 2.2.2 Analysis of Technical Barriers 2.2.3 Analysis of Talent Barriers 2.2.4 Analysis of Brand Barrier 2.3 Foundry Coke Market Drivers Analysis 2.4 Foundry Coke Market Challenges Analysis 2.5 Emerging Market Trends 2.6 Consumer Preference Analysis 2.7 Foundry Coke Industry Development Trends under COVID-19 Outbreak 2.7.1 Global COVID-19 Status Overview 2.7.2 Influence of COVID-19 Outbreak on Foundry Coke Industry Development

3 Global Foundry Coke Market Landscape by Player 3.1 Global Foundry Coke Sales Volume and Share by Player (2017-2022) 3.2 Global Foundry Coke Revenue and Market Share by Player (2017-2022) 3.3 Global Foundry Coke Average Price by Player (2017-2022) 3.4 Global Foundry Coke Gross Margin by Player (2017-2022) 3.5 Foundry Coke Market Competitive Situation and Trends 3.5.1 Foundry Coke Market Concentration Rate 3.5.2 Foundry Coke Market Share of Top 3 and Top 6 Players 3.5.3 Mergers and Acquisitions, Expansion

4 Global Foundry Coke Sales Volume and Revenue Region Wise (2017-2022) 4.1 Global Foundry Coke Sales Volume and Market Share, Region Wise (2017-2022) 4.2 Global Foundry Coke Revenue and Market Share, Region Wise (2017-2022) 4.3 Global Foundry Coke Sales Volume, Revenue, Price and Gross Margin (2017-2022) 4.4 United States Foundry Coke Sales Volume, Revenue, Price and Gross Margin (2017-2022) 4.4.1 United States Foundry Coke Market Under COVID-19 4.5 Europe Foundry Coke Sales Volume, Revenue, Price and Gross Margin (2017-2022) 4.5.1 Europe Foundry Coke Market Under COVID-19 4.6 China Foundry Coke Sales Volume, Revenue, Price and Gross Margin (2017-2022) 4.6.1 China Foundry Coke Market Under COVID-19 4.7 Japan Foundry Coke Sales Volume, Revenue, Price and Gross Margin (2017-2022) 4.7.1 Japan Foundry Coke Market Under COVID-19 4.8 India Foundry Coke Sales Volume, Revenue, Price and Gross Margin (2017-2022) 4.8.1 India Foundry Coke Market Under COVID-19 4.9 Southeast Asia Foundry Coke Sales Volume, Revenue, Price and Gross Margin (2017-2022) 4.9.1 Southeast Asia Foundry Coke Market Under COVID-19 4.10 Latin America Foundry Coke Sales Volume, Revenue, Price and Gross Margin (2017-2022) 4.10.1 Latin America Foundry Coke Market Under COVID-19 4.11 Middle East and Africa Foundry Coke Sales Volume, Revenue, Price and Gross Margin (2017-2022) 4.11.1 Middle East and Africa Foundry Coke Market Under COVID-19

5 Global Foundry Coke Sales Volume, Revenue, Price Trend by Type 5.1 Global Foundry Coke Sales Volume and Market Share by Type (2017-2022) 5.2 Global Foundry Coke Revenue and Market Share by Type (2017-2022) 5.3 Global Foundry Coke Price by Type (2017-2022) 5.4 Global Foundry Coke Sales Volume, Revenue and Growth Rate by Type (2017-2022) 5.4.1 Global Foundry Coke Sales Volume, Revenue and Growth Rate of Ash Content 8% (2017-2022) 5.4.2 Global Foundry Coke Sales Volume, Revenue and Growth Rate of 8% ¤ Ash Content ¤ 10% (2017-2022) 5.4.3 Global Foundry Coke Sales Volume, Revenue and Growth Rate of Ash Content 10% (2017-2022)

6 Global Foundry Coke Market Analysis by Application 6.1 Global Foundry Coke Consumption and Market Share by Application (2017-2022) 6.2 Global Foundry Coke Consumption Revenue and Market Share by Application (2017-2022) 6.3 Global Foundry Coke Consumption and Growth Rate by Application (2017-2022) 6.3.1 Global Foundry Coke Consumption and Growth Rate of Machinery Casting (2017-2022) 6.3.2 Global Foundry Coke Consumption and Growth Rate of Material Treatment (2017-2022) 6.3.3 Global Foundry Coke Consumption and Growth Rate of Smelting industry (2017-2022) 6.3.4 Global Foundry Coke Consumption and Growth Rate of Others (2017-2022)

7 Global Foundry Coke Market Forecast (2022-2027) 7.1 Global Foundry Coke Sales Volume, Revenue Forecast (2022-2027) 7.1.1 Global Foundry Coke Sales Volume and Growth Rate Forecast (2022-2027) 7.1.2 Global Foundry Coke Revenue and Growth Rate Forecast (2022-2027) 7.1.3 Global Foundry Coke Price and Trend Forecast (2022-2027) 7.2 Global Foundry Coke Sales Volume and Revenue Forecast, Region Wise (2022-2027) 7.2.1 United States Foundry Coke Sales Volume and Revenue Forecast (2022-2027) 7.2.2 Europe Foundry Coke Sales Volume and Revenue Forecast (2022-2027) 7.2.3 China Foundry Coke Sales Volume and Revenue Forecast (2022-2027) 7.2.4 Japan Foundry Coke Sales Volume and Revenue Forecast (2022-2027) 7.2.5 India Foundry Coke Sales Volume and Revenue Forecast (2022-2027) 7.2.6 Southeast Asia Foundry Coke Sales Volume and Revenue Forecast (2022-2027) 7.2.7 Latin America Foundry Coke Sales Volume and Revenue Forecast (2022-2027) 7.2.8 Middle East and Africa Foundry Coke Sales Volume and Revenue Forecast (2022-2027) 7.3 Global Foundry Coke Sales Volume, Revenue and Price Forecast by Type (2022-2027) 7.3.1 Global Foundry Coke Revenue and Growth Rate of Ash Content 8% (2022-2027) 7.3.2 Global Foundry Coke Revenue and Growth Rate of 8% ¤ Ash Content ¤ 10% (2022-2027) 7.3.3 Global Foundry Coke Revenue and Growth Rate of Ash Content 10% (2022-2027) 7.4 Global Foundry Coke Consumption Forecast by Application (2022-2027) 7.4.1 Global Foundry Coke Consumption Value and Growth Rate of Machinery Casting(2022-2027) 7.4.2 Global Foundry Coke Consumption Value and Growth Rate of Material Treatment(2022-2027) 7.4.3 Global Foundry Coke Consumption Value and Growth Rate of Smelting industry(2022-2027) 7.4.4 Global Foundry Coke Consumption Value and Growth Rate of Others(2022-2027) 7.5 Foundry Coke Market Forecast Under COVID-19

8 Foundry Coke Market Upstream and Downstream Analysis 8.1 Foundry Coke Industrial Chain Analysis

Continued. . .

Get a demo PDF of the Report at- https://www.researchreportsworld.com/enquiry/request-sample/21366017

About Us:

Research Reports World - is a credible source for gaining the market reports that will provide you with the lead your business needs. At Research Reports World, their objective is to provide a platform for many top-notch market research firms worldwide to publish their research reports, as well as help the decision-makers in finding the most suitable market research solutions under one roof. Their aim is to provide the best solution that matches the exact customer requirements. This drives us to provide you with custom or syndicated research reports.

Contact Us:

Research Reports World

Phone:

US (+1) 424 253 0807

UK (+44) 203 239 8187

Email:sales@researchreportsworld.com

Website:https://www.researchreportsworld.com

-

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Global Foundry Coke Market [2023-2030] | Report Forecasts Bright Future for Industry, Predicted to Reach USD 392.43 Million

COMTEX_438112625/2598/2023-08-09T16:47:52

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Chattanooga apartment, retail developer to buy Eureka Foundry site on Southside

A Chattanooga development firm that has bought and built apartments, offices and other commercial projects near the University of Tennessee at Chattanooga campus over the past decade is shifting south with plans to buy a foundry site near downtown for its latest revitalization project.

Riverside Development announced Monday it has entered into an agreement to purchase the site of the Eureka Foundry, which is in the process of shutting down after 121 years of operation. Chris Curtis, the president of Riverside Development, said the 7.5-acre foundry site at 1601 Reggie White Blvd. could house an array of different new developments after the foundry is closed.

In downtown Chattanooga, Curtis has already bought or developed the Douglas Heights and Edge apartment complexes near UTC and the corporate headquarters for the South's largest vending machine supplier, Five Star Food Service, among other projects. Riverside Development has also built or redeveloped retail, multifamily housing and mixed-use commercial real estate throughout the Southeast.

The Chattanooga builder and developer could not be reached Monday, but in a news release he said he has an agreement to buy the Eureka Foundry site and is developing plans for not only the historic foundry but also adjacent property in the area.

"We are excited for the opportunity to transform such a central part of Chattanooga's Southside and honored to pay homage to the foundry's history as part of this project," Curtis said. "The combination of these two adjoining sites creates a wide array of development possibilities."

The owners of Eureka Foundry told the remaining 41 employees of the business last week that the foundry will shut down and the workers will be laid off by the end of September.

Eureka Foundry was started in 1902, and the company has remained in the same family for four generations. The ductile and gray iron foundry business has been on its current Southside site since 1980, when Eureka took over the former Ross-Meehan foundry.

The building housing the aging foundry was erected, in part, in 1920, and the foundry owners said the cost of maintaining the facility has proven to be too much to remain competitive with other metal casting and foundry operations.

Fred Hetzler Jr., the fourth-generation president of the family-owned company, said he and his brothers were unable to find a buyer for the business, but they hope to soon finalize the sale of the property to Riverside Development.

"We've exhausted their efforts to try to find a buyer for the business," Hetzler said in a telephone interview Monday. "It was a very difficult day for everyone last week when they told them about plans to close the foundry. I hate to do it, but it's what is necessary."

Eureka Foundry is the oldest family-owned foundry of its type in Chattanooga, although the cookware manufacturer Lodge Manufacturing in South Pittsburg has been forging cast iron cookware since 1896.

The original foundry on the site was built in 1920 with 39,397 square feet and the total square footage for all structures on the property now includes 215,958 square feet of buildings, according to Hamilton County property records.

The site is next to Naked River Brewing and just down the street from Finley Stadium and the First Horizon pavilion.

Contact Dave Flessner at dflessner@timesfreepress.com or 423-757-6340.