Metaldyne, LLC Business Report up until FY ended Mar. 2014
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|FY ended Mar. 31, 2014||FY ended Mar. 31, 2013||Rate of
Reorganization-In December 2012, the Company announced that it had been acquired by American Securities LLC, a U.S.-based private equity firm, in a transaction that includes all of the Company's global operations. American Securities purchased the Company from an investment group led by Carlyle Strategic Partners, which owned the Company since October 2009. American Securities' other investments in the automotive sector include HHI Group Holdings, a manufacturer of forged components, hub unit bearings, and engine timing systems, and GT Technologies, a manufacturer of valvetrain components. (From a press release on December 19, 2012)
-In October 2009, the Company sold most of its assets to MD Investors Corporation. The new Company, owned by MD Investors, operates under the name of Metaldyne, LLC.
-In May 2009, the Company and its U.S. subsidiaries filed for protection under Chapter 11 of the U.S. Bankruptcy Code.
Divestitures-In April 2010, the Company sold its facility in Hamburg, Michigan, U.S. to Hyspan Precision Products Inc., a manufacturer of flexible tubular metal products located in the U.S. The facility provides exhaust manifolds, exhaust down pipes and other tubular components for automotive applications. This sale was part of Metaldyne's strategic plan to focus on its product lines in the engine, driveline and transmission markets. (From a press release on April 8, 2010)
Strategic Alliance-In 2009, KS Kolbenschmidt GmbH and the Company signed an agreement to jointly develop and market power cylinder systems. Under the agreement, no equity will be exchanged, both parties will remain equal partners in the agreement, and both parties will maintain independent operations. KS Kolbenschmidt GmbH, a member of KSPG AG, is a supplier of gasoline and diesel engine pistons for cars and commercial vehicles. (From a press release on January 29, 2009)
Major Contracts-In 2013, the Company announced that it supplies powder metal forged connecting rods for the Ford 1.0L EcoBoost gasoline engine. The Company produces connecting rods for the 1.0L EcoBoost engine from its plant in Valencia, Spain and is adding production capacity for the rods in Suzhou, Jiangsu Province, China. The 1.0-liter EcoBoost engine is currently offered in the European "Fiesta", "B-MAX", "Focus", "C-MAX" and "Grand C-MAX", with further plans to put the engine in the "Transit Connect", "Transit Courier", "Tourneo Connect", "Tourneo Courier", "Mondeo" and "EcoSport". The first vehicle in North America to offer the 1.0L EcoBoost will be the "Fiesta" later this year. (From a press release on June 27, 2013)
-In 2008, the Company announced that it was awarded more than USD 50 million in contracts from multiple automakers to supply powder metal forged connecting rods for 4 and 6 cylinder engines. These engines would be used in 2009 and 2010 model cars, crossover vehicles and minivans. The programs launched in Asia, Europe and North America. One of the contracts won by the Company is a USD 25 million contract from an Asian automaker to supply connecting rod assemblies. (From a press release on August 13, 2008)
Awards-The Company announced that three of its global operating plants have received customer awards for quality excellence in 2013, including two Supplier Quality Excellence Awards from General Motors. General Motors recognized facilities located in St. Marys, Pennsylvania, U.S. and North Vernon, Indiana, U.S. The Company's plant in Pyeongtaek, South Korea was also awarded with a certificate from Hyundai Mobis for 100% on-time delivery in 2013. (From a press release on October 17, 2013)
-In February 2013, the Company announced that three of its operating plants received Supplier Quality Excellence Awards from General Motors. GM recognized Company facilities located in Ramos Arizpe, Mexico; Suzhou, Jiangsu Province, China; and North Vernon, Indiana, U.S. for quality performance over the past 12 months. (From a press release on February 21, 2013)
-In November 2011, the Company announced that its plant in Ramos Arizpe, Mexico received a Certificate of Excellence from General Motors. The Ramos Arizpe plant is part of the Company's Sintered Products business unit. (From a press release on November 21, 2011)
-In July 2011, the Company announced that its plant in Fremont, Indiana, U.S. received a Certificate for Quality Performance from Chrysler. The Fremont plant is part of the Company's Vibration Control Systems business unit. The certificate recognizes Metaldyne Fremont's quality record on the 2.0L and 2.4L balance shaft modules for the 2011 model year, with 100% on-time delivery and less than 5 PPM. (From a press release on July 26, 2011)
-In June 2011, the Company announced that its powder metal forging plant in Valencia, Spain received a World Excellence Award from Ford Motor Company. The Valencia plant is part of the Company's Sintered Products business unit. Metaldyne Valencia began supplying powder forged connecting rods to Ford in 1999. Since 2002, the Valencia team has provided 100% on-time delivery. (From a press release on June 30, 2011)
Investments outside U.S.<Czech Republic>
-In October 2012, the Company announced that it had opened a new facility in Zbysov, Czech Republic. The new plant is located near the Company's existing operation in Oslavany. The Company acquired the Zbysov facility in February 2012 and began production in July 2012. The new facility has 8,000 square meters of production area. Initially, the facility will support growth for the Company's forging and machining product lines. This is the Company's second operation in eastern Europe.