Macedonia - The Hudson-based investment firm New Growth Capital Group has signed a letter of intent to purchase Macedonia's Empire Die Casting, an East Highland Road metal parts manufacturer, for $11.7 million. However, the die casting firm is in Chapter 11 bankruptcy and under court rules, the offer to purchase will be the starting bid in an auction some time in December, according to officials with the two firms.

Bob Hopkins, president of Empire Die Casting, said the company filed for reorganization under Chapter 11 bankruptcy in October and has more than one firm interested in purchasing the company, which specializes in the manufacture of aluminum and zinc metal parts.
Sonny Nardi, president of Teamsters Local 416, said about 170 of the company's 211 workers are union members. Nardi said he spoke with company workers Oct. 30 to explain what is happening.

"From what we understand, the bidders want to keep the union," he said, but added, "There's always the chance that in the auction, a bidder could come in and want to liquidate.
(Video) Hudson firm bids $11.7 million for Empire Die Casting in Macedonia - News Leader | Nordonia Hills, Summit County, OH