News Column

BRIEF: Grede part of 3-company merger

August 8, 2014

By Kevin Allenspach, St. Cloud Times, Minn.



Aug. 08--Grede Holdings LLC, which has a foundry in St. Cloud, has merged with HHI Group Holdings and Metaldyne LLC to form a new company, Metaldyne Performance Group Inc. Grede, HHI and Metaldyne will continue to operate as business units within MPG, which is majority owned by an affiliate of American Securities LLC, a U.S. private equity firm.

As a result of the merger, MPG will have 58 facilities in 13 countries across North America, South America, Europe and Asia. The company will total more than 11,000 employees.

According to a statement from the merged companies, the merger will allow three established automotive suppliers to "strengthen their market position across metal forming technologies, expand their global footprints and leverage certain cross-selling opportunities that exist between the companies."

George Thanopoulos, CEO of HHI Holdings, will be CEO of MPG. Thomas Amato, CEO of Metaldyne, and Doug Grimm, CEO of Grede, will be co-presidents of MPG. They will continue to manage the operations of their respective companies.

For more, visit www.grede.com.

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(c)2014 the St. Cloud Times (St. Cloud, Minn.)

Visit the St. Cloud Times (St. Cloud, Minn.) at www.sctimes.com

Distributed by MCT Information Services


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Source: St. Cloud Times (MN)


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