AAM Sells U.S. Casting Operations
American Axle & Manufacturing Holdings Inc. (AAM) entered into a definitive agreement to sell its U.S. iron casting operations (Grede) to funds managed by Gamut Capital Management for $245 million. Across 10 manufacturing facilities, Grede develops, manufactures, assembles and supplies ductile, gray and specialty iron castings and machined components for the automotive, commercial vehicle and industrial markets. AAM will retain its El Carmen, Mexico, iron casting operations.
According to AAM, the sale of Grede will enable the company to streamline its business. AAM will continue to optimize and invest in its highly engineered product portfolio and focus on growth opportunities including electrification.
Source: Industrial Heating
- Pig iron producer restart in north Brazil could have minor impact on market
- China iron ore futures rise on firm demand
- Sandvik Acquires Thermaltek
- Bodycote Agrees to Acquire Ellison Surface Technologies
- Different Types of Marking Tools
- First Automobile Works, China to begin SinterCast-CGI series production
- Tupy acquires Teksid´s cast iron components business from Fiat Chrysler Automobiles
- Fiat Chrysler, Peugeot Agree to Merge
- See all News