Metaldyne mulling North American forging unit sale

Newswire

CHICAGO, Oct 31 (Reuters) - Privately held Metaldyne said on Monday it has hired Goldman, Sachs & Co. to explore the possible sale of its North American forging business to expand core business and strengthen its balance sheet. The forging business represents about 15 percent of roughly $2 billion of total annual sales for Metaldyne, the Plymouth, Michigan-based company said. The forging industry is consolidating and while attractive to specialists in that area, it is not a core ...

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