PLYMOUTH, MI — The transfer of full ownership of New Castle Machining and Forge to Metaldyne Corp. is now complete. Since January 2003, the New Castle operation has been managed as a joint venture between Metaldyne and DaimlerChrysler. The transfer of ownership represents Metaldyne’s final step in the acquisition of New Castle Machining and Forge, according to Thomas Amato, Metaldyne’s vice president of corporate development.

“Finalizing this transaction was also a function of unwavering commitment from many employees at DaimlerChrysler, Metaldyne and the UAW,” said Amato. “Working together we achieved an unprecedented customer-supplier-employee relationship.”

The New Castle Machining and Forge plant manufactures suspension and powertrain components for Chrysler, Jeep and Dodge vehicles.

“New Castle’s products are core products to Metaldyne,” said Tim Leuliette, Metaldyne’s chairman, president and CEO. “We are now launching initiatives to bring new business to this facility and expand the customer base beyond DaimlerChrysler. For the immediate future, we are focused on transitioning this operation into the Metaldyne family. The year-long joint venture paved the way for a smooth transition.”

For more information on Metaldyne, go to: www.metaldyne.com.

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