• Bloomberg


Hitachi Metals Ltd., Japan’s biggest maker of magnets containing rare earths, will pay $1.3 billion for Wisconsin-based Waupaca Foundry Inc., gaining four foundries in the company’s home state and two others elsewhere in the U.S.

The purchase will be financed with cash and debt, according to a statement Tuesday from Tokyo-based Hitachi Metals, a subsidiary of Hitachi Ltd.

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