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Article: Metaldyne files for bankruptcy, looks to sell businesses.(North America)
- Article from:
- Modern Casting
- Article date:
- July 1, 2009
CopyrightCOPYRIGHT 2009 American Foundry Society, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Motor vehicle industry supplier Metaldyne Corp., Plymouth, Mich., announced it has filed for Chapter 11 bankruptcy to address monetary needs and facilitate a restructuring, which will include the sale of the majority of its remaining assets.
Metaldyne makes assemblies and modules for transportation related powertrain and chassis applications, including engine, transmission/transfer case, wheel end and suspension, axle and driveline, and noise and vibration control products, to the motor vehicle industry. The company had revenues in 2008 of approximately $1.57 billion and employs more than 4,400 at 33 facilities in 14 countries.
Since its acquisition in ...