Metaldyne announces expansion in Asia
Plymouth, Mich.-based Metaldyne announced today that it is expanding its manufacturing location in Pyeongtaek, South Korea. The plant, which currently produces balance shaft modules for Hyundai, will expand to include powder metal connecting rod assemblies and front end modular assemblies. The company also is adding engineering resources in the region.
The company also announced that it has retained Goldman, Sachs & Co. to explore a possible divestiture of its North American forging business. According to the company, this noncore business represents approximately 15 percent of its total sales.