MPG to Exit Wheel-Bearing Business
Metaldyne Performance Group (MPG) announced the exit of its wheel-bearing business in Sandusky, Ohio. MPG, in coordination with its customers and suppliers, anticipates an orderly wind-down and exit of the business operations by late 2016 or early 2017. The wheel-bearing business, which was acquired by a subsidiary of HHI Group Holdings Inc. (the predecessor of MPG) in 2008, specializes in the manufacturing of wheel bearings for passenger cars. Exiting this business will permit MPG, a provider of engineered components, to focus its resources on faster-growing powertrain applications.