BETTENDORF -
Sivyer Steel Castings is bouncing back from bankruptcy with a $6.5 million sale that ushers in a new ownership group and fresh outlook.
After more than a century in Bettendorf, the company aims for a new beginning following a near-knockout blow during a downturn.
Scott Tinsman, who is part of the new ownership group, gives credit to Sivyer's 240 employees for making concessions to save the company.
"What they do is extremely difficult and very beneficial to making this country work and work well," he said, on Thursday, September 20.
Sivyer is running three shifts around the clock these days. It serves clients from mining to the military. The plant is working to double its potential over the next two years.
"I've been here for good times and bad times," said Sivyer President Keith Kramer. "I can tell you that I've never worked for a company that has a better or more dedicated workforce than Sivyer Steel."
While Sivyer ramps up for revival, these are trying times for the steel industry. With tariffs and trade upheaval, new owners believe that clients will stay local.
"What am I going to do to hedge my bet?" asked Sivyer CEO Michael Baxley. "I want to go local because the odds of shutting down in Iowa is pretty low."
After dealing with a downturn, Sivyer is adding jobs - 10 so far- with more on the way. It's ready to reinforce how it competes in the global economy.
"It's one of the many ways that the Quad Cities touch the world with its special manufacturing capabilities," said Joel Lorentzen, one of Sivyer's new owners.
And they conclude that the best days are just ahead for Sivyer Steel Castings, representing a new Golden Age for American manufacturing.
