SIC 3321 Gray and Ductile Iron Foundries

Encyclopedia of American Industries | 2005 | Copyright

SIC 3321
GRAY AND DUCTILE IRON FOUNDRIES

This classification covers establishments primarily engaged in manufacturing gray and ductile iron castings, including cast iron pressure and soil pipes and fittings.

NAICS Code(s)

331511 (Iron Foundries)

Industry Snapshot

According to a late 1990s Foundry Management and Technology magazine survey of 110 industry executives, gray iron castings shipments rose 2.1 percent in 1997, and ductile castings shipments increased by 3.7 percent. However, many of those queried responded that they experienced a slowdown in the late 1990s, or, "some type of leveling off in the industry." They prepared to enter the twenty-first century with cautious anticipation, with 37 percent of gray iron producers staying their increase of debt, 8 percent increasing debt, 18 percent retiring debt, and 37 percent carrying no debt. Of the ductile castings producers, 42 percent carried the same debt, while 27 percent carried no debt, 19 percent retired debt, and 12 percent anticipated accruing more debt.

The survey called for capital expenditure increases of 8.6 percent for gray iron producers and 5.1 percent for ductile castings producers, though 53 percent of both categories kept their expenditures at the same level in the late 1990s. These conservative approaches slowed production, with only 81.4 percent of gray iron plants and 82.7 percent of ductile iron foundries working at capacity. Industry executives responded that they worried less about general labor shortages in 1999, though they worried a bit more about medical insurance costs, decreasing orders, and overseas competition. They worried much less about on-time deliveries.

Organization and Structure

This industry is heavily engaged in manufacturing pipes and pipe fittings; however, other segments of the industry are growing in response to changing market demands. For example, the automotive industry has switched most engine components to aluminum in response to consumer demands for lighter, more fuel efficient cars. While this move has hurt some gray and ductile iron foundries, it has forced them to find alternative markets. This is readily apparent, since 52.6 percent of product share is claimed by other gray iron castings and 19.9 percent is claimed by other ductile iron castings. Only 3.9 percent of product share is due to cast iron pressure, soil pipe, and fittings, whereas 14.0...

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