November 4, 2016
The Brillion News
BRILLION – The latest company to own Brillion Iron Works has been sold. Various members of the business news media, including the Wall Street Journal, reported the transaction on Friday, November 3.
Metaldyne Performance Group (MPG) is being sold to American Axle & Manufacturing for $1.6 billion. American Axle used to be a part of General Motors Corporation until GM spun it off as a separate entity about 20 years ago.
The combined company would have an annual revenue stream of about $7 billion. The acquisition of MPG means that American Axle will be less dependent upon making parts for GM.
MPG purchased BIW from Accuride Corporation this fall, then promptly announced the closing of the Brillion foundry. Later, Woodward Communications radio station WHBY-AM 1150 of Appleton learned that a company was anonymously recruiting a plant manager to head up a non-ferrous foundry operation in Brillion, raising the possibility that the Brillion plant would end up making non-ferrous auto parts.
The acquisition of MPG by American Axle is interesting also because of family ties. The CEO of Accuride, Richard Dauch, is the brother of David Dauch, the CEO of American Axle.