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INDUSTRY news


American Axle Acquires Metaldyne


American Axle & Manufactur- ing Holdings Inc. (Detroit) and Metaldyne Performance Group Inc. (Southfield, Michigan) announced a merger. AAM will acquire MPG for approximately $1.6 billion in cash and stock. “AAM’s transformational acquisi-


tion of MPG brings together two complementary Tier 1 organizations to create a company with greater scale and increased diversity across products, customers and end mar-


Plattco (Plattsburgh, New York) has qualifi ed for $50,000 in Excelsior tax credits and is reportedly planning on using the funds to replace its met- alcasting furnace. According to a report from the Press-Republican, Plattco president


kets,” said David C. Dauch, chairman and CEO, AAM. “MPG’s exper- tise in complex, highly-engineered powertrain components and its global footprint will be tremendous assets to AAM. We are excited about the powerful industrial logic in this combination that will allow us to cre- ate additional value for our customers and other key stakeholders. ” MPG, which is the parent com-


pany of casting giant Grede, provides lightweight components for use in


Plattco to Use Grant for Furnace Upgrade


Doug Crozier said the company plans on using the money towards a $300,000 furnace upgrade. “We are pleased New York has pro-


grams like this to support companies like ours,” Crozier said, according to the report. Plattco manufactures valves and has


been employee-owned for 14 years. Around 30% of its sales are outside North America. “We made a commitment to our


employees and ourselves that we are going to be a Plattsburgh manufac- turer,” Crozier said. 


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powertrain and suspension applica- tions for the global light, commercial and industrial vehicle markets. T e company has over 60 locations in 13 countries, with 12,000 employees. “MPG and AAM share a similar


culture and value system, laser focused on quality, operational excellence and technology leadership, which creates a natural fi t and clear path to value creation for stakeholders of both companies,” said George T anopoulos, CEO, MPG. 


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