When Greg Whitman joined Spuncast in 2004, he wasn’t chasing a dream job. He just wanted to be in the race. Newly married and fresh out of college, he needed steady work and found it at a small centrifugal foundry in Watertown, Wisconsin.
What began as a temporary role quickly became something more as Greg realized Spuncast wasn’t just a workplace. It was a place where people took pride in their craft and supported each other’s growth.
This year, Greg’s journey culminated in being named Spuncast’s president. His journey mirrors the company’s own; one defined by steady growth, innovation, and the idea that when a company invests in its people, everyone rises together.
Greg’s journey: From desperation to dedication
Greg’s journey proved similar to Spuncast’s: start from humble beginnings, make the most of emerging opportunities, and keep learning. In fact, when he began, there was nothing for him to do but learn.
“I had no experience,” he says. “I was right out of college, newly married, and desperate to find a job anywhere. I tried a couple of other factories before ending up at Spuncast, and going through the foundry experience was unlike anything I’d ever seen.”
Greg started in inside sales, but his curiosity quickly pulled him deeper into the manufacturing process. He soon found himself fascinated by how things worked and what the company’s products meant to the industries they served.
He moved from inside sales to outside sales, then sales management, then planning and production. Eventually, he worked his way into management and finally, the president’s position. “I’ve learned everything I know right here,” he said.
It’s only fitting that Greg should be chosen to help grow the company that had provided him with so much personal growth. Then again, that reciprocal relationship has been a trademark of Spuncast since its inception.
Spuncast’s journey: From one customer to hundreds
Founded in 1976, Spuncast began humbly. Three employees and a single centrifugal casting machine occupied a small building that had once been a tractor dealership. They had a grand total of one customer.
The organization was leaner in those days; The two primary owners were foundry men who handled everything in true entrepreneur fashion. “They basically did it all,” Greg says. “Sales, manufacturing, delivery, accounting–everything.”
From those beginnings, Spuncast grew steadily, expanding its services and technical capabilities. What started as a simple heat-resistant furnace tube operation became a multi-industry manufacturer serving clients across the U.S. and around the world.
“We started with one part,” Greg explains. “Customers started asking, ‘Could you do some machining on the ends of our castings, too?’” The company then started machining, added heat treatment, and over time, grew in technical complexities.
By the early 2010s, Spuncast had grown to roughly 125 employees and expanded to include two foundries, two machine shops, heat treatment, engineering, and sales departments. Today, the foundry produces over two hundred different alloys, including everything from high-alloy heat-resistant grades to low-alloy high-strength steels. It has become a leader in centrifugal casting, with sales reaching $30–35 million annually.
Greg’s personal story and Spuncast’s growth are inseparable, and they are both amplified by the company’s true differentiator: Employee ownership.
Why they care – the power of employee ownership
Greg believes that one of the most defining aspects of Spuncast is its Employee Stock Ownership Plan (ESOP), a structure that gives every employee a stake in the company’s success.
The ESOP began in 2004. The company’s original owners were nearing retirement but there were no successors within their respective families for the business. They began selling shares of the company to the employees. By 2021, Spuncast became 100% employee-owned, a transformation that reshaped its culture and reinforced its values.
The result is a workplace where everyone has skin in the game, as well as a reason to care.
At the end of the year, Spuncast’s profits roll back into the company: into the equipment it buys, the employees’ wages and benefits, and into a pension fund that pays out when they retire. It’s essentially a pension plan on top of their own retirement savings.
“We don’t pay federal taxes,” Greg says. “That money goes into our employee pension fund instead. Every year, we legally have to put money into that fund. It’s essentially free money. The kind of benefit you just don’t see anymore.”
Employee ownership fuels commitment and accountability. As Greg puts it, it’s a cycle of trust and reinvestment.
“We can reinvest in our people and the company,” he says. “That makes Spuncast a unique place to work. It shows people we’re committed to them, and we get that commitment back.”
A foundry with a variety of jobs and multiple opportunities
When people picture a foundry, they often think of heat, noise, and molten metal. And yes, that’s primarily what Spuncast does.
“We take scrap, heat it up into a liquid state, and pour it into a spinning reusable steel mold,” Greg said. “Everything we make is tubular.” From there, castings go through heat treatment, machining, and finishing.
While that’s essentially Spuncast’s world, its workforce includes far more than what you’ll find on the factory floor. “We hire machinists, engineers, maintenance staff, lab technicians, sales and accounting people. You name it,” Greg says.
Prior experience isn’t required to work at Spuncast, either. For example, people with mechanical skills who can turn a wrench make great maintenance workers. People good with computers and networking make great IT staff. “Even if you don’t have direct foundry experience, we can teach you,” Greg said.
That openness extends across every department. Whether someone works in operations, engineering, or administration, they can find opportunities to grow. As Greg notes, it’s really about finding the right people.
The future belongs to the people
As Spuncast approaches its 50th year, Greg said the foundry’s vision for the future centers on growth, modernization, and continuous improvement.
“The future is really exciting,” Greg says. “We’re focused on growth, modernization, and investing in new technology. We’re looking at automation and process innovation to make us even more efficient.”
That investment isn’t just in machines: it’s in people.
“If we all want to be part of something that’s excellent, we all have to excel at what we do,” Greg says. “As we grow, we reinvest in the company and our employees. We’re not looking to replace anyone — we’re looking to make their lives easier. Happy workers make better products.”
That philosophy, Greg says, is the foundation of Spuncast’s future. The company’s stable business model allows it to plan long-term, navigate economic ups and downs, and continue growing steadily. They can invest long-term because they’re not chasing short-term profits, one of the advantages of being employee-owned.
Your journey will literally become the reward
For Greg, the opportunity that changed his life is the same one he hopes to create for others.
“I would have never guessed I’d be in a foundry or that I’d fall in love with it,” Greg says. “Over the years, it’s become part of me. I took the job as president because I want to see this place grow and see it around for generations to come.”
Greg’s story is proof that Spuncast isn’t just a place to work. It’s a place to build a career. From its beginnings in a small shop to a $35 million company with hundreds of alloys and global reach, Spuncast’s success has always been built on its people.
“I’m proof of what this company can do for someone willing to put in the work,” Greg says. “Now I want others to experience that same journey. To build something lasting for themselves and for our customers.”
Interested in joining our employee-owned team?
Learn more about careers and culture at www.spuncast.com/careers.
