Vermont Castings Is
Back in Business
By M. D. Drysdale

Vermont Castings, with a hot-metal foundry in Randolph and an assembly and enameling plant in Bethel, has been acquired by a fast-growing Kentucky manufacturer of fireplaces and hearth places.

The new owner is Monessen Hearth Systems Co. of Paris, Ky. According to published reports, Monessen’s parent company, The Riverside Co. acquired CFM’s assets for $42.5 million.

The former owner of Vermont Castings, CFM Corp of Ontario, Canada, filed for Chapter 11 bankruptcy in April, citing losses in several aspects of their operation. Vermont Castings officials, however, said at that time that the stove company here remained a profit center and they were optimistic that a new owner would be found to run the Vermont operation.

The Randolph and Bethel plants, which were virtually shut down for a couple of months in the spring, are back in full production now, dealing with a "very strong" surge of interest in wood-heating stoves and fireplaces, according to plant manager Dale Trombley. He said employment has now reached 160, which is a bit more than it was when the shutdown occurred. It is planned to reach about 210, which was the full operating workforce a year ago.

Trombley did not try to hide his enthusiasm for the new ownership situation which, he said, will likely be able to send new products for Vermont Castings to make, as well as providing new dealers and distributors for the Vermont Castings brand. Trombley has already twice visited Monessen’s Kentucky headquarters and expects a visit from the Monessen team later this month.,

"I see nothing but a bright future," he declared.

Monessen issued a statement from its president and CEO Dave Barrett that "We are very excited to be adding the Vermont Castings and Majestic lines to our extensive selection of fireplace and hearth products.

"These brands are exceptionally well-respected in the marketplace, and have a loyal following among distributors, dealers, and consumers."

Monessen was founded in 1993 and recently built a 280,000-square-foot manufacturing facility in Paris, employing more than 350. Its catalog indicates that it specializes in gas fireplaces and various fire displays that are visible through glass fronts.

It does offer a woodburning fireplace, but apparently does not have Vermont Castings’ experience in woodburning and does not manufacture wood stoves.

That’s what makes it such a great marriage for Vermont Castings, Trombley said. "Making wood stoves is what we do, and it’s a great match.

"I see nothing but growth in our future."