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USA - American Axle acquires Metaldyne Performance Group

American Axle & Manufacturing Holdings, Inc (AAM) has announced that it has completed the acquisition of Metaldyne Performance Group Inc (MPG). The transaction was unanimously approved by the boards of directors of both companies and recently approved by stockholders of AAM and MPG.

“Today is a historic day where we combine the strengths of both AAM and MPG into a premier, global Tier 1 automotive supplier with broader capabilities across multiple product lines,” said David C. Dauch, AAM chairman and CEO on April 6. “This transformational acquisition will allow us to maximise stakeholder value by creating a company with greater size, scale and increased business diversification that delivers efficient, powerful and innovative solutions for our customers.”

AAM is a premier, global leader in design, engineering, validation and manufacturing of driveline, metal forming, powertrain, and casting technologies for automotive, commercial and industrial markets. AAM has over 25,000 associates operating at more than 90 facilities in 17 countries to support its customers on global and regional platforms.

Source: autocarpro.in

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