Metaldyne Corporation of Plymouth, Mich., has signed an agreement to sell certain powertrain and other operating assets and the stock of certain of its foreign subsidiaries as going concerns to RHJ International (RHJI) under a bankruptcy-court-supervised sale. Under the agreement, a newly formed subsidiary of RHJI will purchase certain North American and all of the European assets of Metaldyne's Sintered Products, Vibration Control Products and Powertrain Products business units as well the European Forging Products business unit and certain Asian operations. The transaction is valued at approximately $100 million.
Metaldyne, a leading global designer and supplier of metal-based components, assemblies and modules for transportation-related powertrain and chassis applications, is a wholly owned subsidiary of Asahi Tec, a Shizuoka, Japan-based chassis and powertrain component supplier in the passenger car/light truck and medium/heavy truck segments.
Metaldyne to Sell Powertrain, Other Assets to RHJ International
July 14, 2009