PLYMOUTH, Mich. — Metaldyne has said it will close its Niles, Ill., plant, effective
March 31, 2009.
Metaldyne put its Niles facility, an aluminum die casting operation, into Discontinued Operations in July to be held for sale or closure.
According to Thomas Amato, Metaldyne chairman and CEO, the company was unable to find a buyer for the Niles plant after several months. "…given the lower industry volumes we now need to accelerate the closure of the operation," he said.
Amato added that this action is in line with the company’s product and cost streamlining efforts. Since January Metaldyne has taken significant steps to improve cash flow, reduce structural costs, balance capacity with softer vehicle production in North America and create a more agile organization focused on core products.
