Brantford, Ontario-based Wescast Industries Inc. acquired Georgia Ductile Foundries, LLC on September 12, 2002. The total purchase price for the acquisition, including the assumption of debt, was approximately US$70 million. The assumption of debt included Wescast’s guarantee of floating-rate industrial revenue bonds involving an industrial development authority of a Georgia county.
Wescast was represented in Canada by Blake, Cassels & Graydon LLP, with a team that included John Tuzyk, Chris Javornik and Jonathan Piurko (corporate and securities), Paul Tamaki (tax) and Neil Herle (financial services). Powell, Goldstein, Frazer & Murphy LLP in Atlanta acted as U.S. counsel to Wescast, with a team that included Tom McNeill and Lou Spelios (corporate) and Rob Lewinson (financial services). Georgia Ductile was represented by King & Spalding in Atlanta, with a team that included Paul Quiros, Lynn Scott, Lisa Read and Bacardi Jackson (corporate) and Woodrow Vaughan (financial transactions).