Metaldyne announced yesterday that it will expand its manufacturing location in
Metaldyne also said that it has retained Goldman Sachs to explore a possible divestiture of its North American forging business. According to a statement, this business is non-core to Metaldyne and represents approximately 15 percent of the company’s total sales.
“Metaldyne has reported continued revenue increases and financial improvement through an otherwise sluggish automotive market,” said Leuliette. “The divestiture of our non-core North American Forging business would further strengthen our balance sheet and position Metaldyne for additional core business expansion.
“As businesses and markets evolve, the forging industry is consolidating. While this business is attractive for forging specialists, it is not core to Metaldyne.”