Diversified manufacturer Leggett & Platt has sold its aluminum die-casting unit to New York-based private equity firm Kenner & Company, which has decided to rename the aluminum, magnesium and zinc group to its previous name of Pace Industries and keep it headquartered in Fayetteville, Ark.

The firm is seeking new business as die-casting sales for automotive and such non-automotive uses as small engines for lawn and garden have been flat-to-down this year. "Our intention is to be aggressive and grow every plant we have today," says Scott Bull, CEO of Pace, in an interview with the Platts Metals Daily subscription newsletter. "There is open capacity in the industry, and we are not immune to that. We have suffered some open capacity at some of our plants."

Bull suggests that the appliance market is doing well as people are opting to renovate their houses rather than buy new ones. "Business is not robust, but it's not awful," he says, hoping for overall demand improvement in the second half of the year.