SOUTHFIELD, Mich., Nov. 3, 2015 /PRNewswire/ -- Metaldyne
Performance Group Inc. (NYSE: MPG), a leading provider of
highly-engineered components for use in powertrain and
safety-critical applications for the global light, commercial and
industrial vehicle markets, today reported the following financial
results for its third quarter ended September 27, 2015.
Third Quarter 2015 Financial Highlights:
- Net sales were $746.6 million
compared to $773.0 million in the
third quarter of 2014.
- Gross profit increased 7.4% to $126.2
million for the quarter compared to $117.5 million the same quarter in 2014.
- Net income for the quarter was $28.3
million, resulting in diluted earnings per share of
$0.41, a 13.9% year over year
increase of diluted EPS.
- Adjusted EBITDA was $128.8
million, or 17.3% of net sales.
- Adjusted Free Cash Flow, defined as Adjusted EBITDA less
capital expenditures, was $75.1
million, or 10.1% of net sales.
- A third consecutive quarterly dividend declared of $0.09 per share for shareholders of record as of
November 20, 2015.
- Increased voluntary debt prepayment to $25 million in the third quarter.
First Nine Months 2015 Financial Highlights:
- Net sales increased 18.3% to $2,312.0
million, compared to $1,954.8
million for the same period in 2014.
- Gross profit increased 30.1% to $396.8
million for the first nine months of 2015, compared to
$304.9 million in the first nine
months of 2014.
- Net income for the period was $105.0
million, resulting in diluted earnings per share of
$1.52.
- Adjusted EBITDA increased 17.6% to $415.0 million or 17.9% of net sales, for the
same period.
- Adjusted Free Cash Flow, defined as Adjusted EBITDA less
capital expenditures, was $246.3
million or 10.7% of net sales.
- Record new business awards (based upon peak annual net sales)
of over $620 million.
- Total voluntary debt prepayments of $55
million through the first nine months of 2015.
Commenting on the Company's results, George Thanopoulos, Chief Executive Officer of
MPG, stated,
"MPG came together to accelerate profitable growth. We booked
record new business awards in the first nine months of 2015,
focused on new fuel-efficient engines and transmissions. These
awards are scheduled to launch and ramp up over the next five
years, in line with our long-term sales target.
"Our third quarter results continue to reflect our value
creation in the near term. We continued our balanced use of cash by
reinvesting in the business, increasing our voluntary debt
prepayment, and returning capital to our shareholders through the
declaration of our third quarter dividend.
"We are very proud of our accomplishments so far this year and
we remain committed to executing our core value creation and growth
strategy."
Business Outlook:
For fiscal 2015, MPG maintains
guidance as follows:
- Net sales $3.00 - $3.15
billion
- Adjusted EBITDA between $520 and $560
million
- Capital expenditures between $210 and
$220 million
- Adjusted Free Cash Flow between $310 and
$340 million
Conference Call:
The Company will hold a conference
call to discuss its third quarter and year to date 2015 results
today at 8:00 a.m. EST on
November 3. A live webcast of the
call may be accessed over the Internet from the Company's Investor
Relations website at investors.mpgdriven.com. Participants should
follow the instructions provided on the website to download and
install the necessary audio applications.
The dial-in phone number for the conference call is:
|
|
U.S.
|
1-877-201-0168
|
International
|
1-647-788-4901
|
Conference
ID
|
55639365
|
|
|
A live webcast of the conference call and the third quarter
press release will also be available online at
http://investors.mpgdriven.com.
For those unable to participate in the conference call, a replay
will be available from 11:00 a.m. ET
on November 3rd, until
11:59 p.m. ET on November 10th. The replay dial-in
phone number is:
|
|
U.S.
|
1-855-859-2056
|
International
|
1-404-537-3406
|
Passcode
|
55639365
|
|
|
About MPG:
MPG is a leading provider of
highly-engineered components for use in powertrain and
safety-critical platforms for the global light, commercial and
industrial vehicle markets. MPG produces these components using
complex metal-forming manufacturing technologies and processes for
a global customer base of vehicle OEMs and Tier I suppliers. MPG's
metal-forming manufacturing technologies and processes include
aluminum die casting, forging, iron casting and powder metal
forming as well as advanced machining and assembly. Headquartered
in Southfield, Michigan, MPG
has a global footprint spanning 60 locations in 13 countries
across North America, South
America, Europe and Asia with approximately
12,000 employees. For more information, visit
www.mpgdriven.com.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains certain "forward-looking statements"
about MPG's financial results and business prospects within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by words such as
"expects," "intends," "anticipates," "plans," "project,"
"believes," "seeks," "targets," "forecast," "estimates," "will" or
other words of similar meaning and include, statements regarding
the outlook for the Company's future business, prospects, and
financial performance; the industry outlook, our backlog and our
2015 business outlook and financial guidance. Forward-looking
statements are based on management's current expectations and
assumptions, which are subject to inherent uncertainties, risks,
and changes in circumstances that are difficult to predict. Actual
outcomes and results may differ materially due to global political,
economic, business, competitive, market, regulatory, and other
factors and risks, including, volatility in the global economy
impacting demand for new vehicles and our products; a decline in
vehicle production levels, particularly with respect to platforms
for which we are a significant supplier, or the financial distress
of any of our major customers; seasonality in the automotive
industry; our significant competition; our dependence on
large-volume customers for current and future sales; a reduction in
outsourcing by our customers, the loss or discontinuation of
material production or programs, or a failure to secure sufficient
alternative programs; our failure to offset continuing pressure
from our customers to reduce our prices; our inability to realize
all of the sales expected from awarded business or fully recover
pre-production costs; our failure to increase production capacity
or over-expanding our production in times of overcapacity; our
reliance on key machinery and tooling to manufacture components for
powertrain and safety-critical systems that cannot be easily
replicated; program launch difficulties; a disruption in our supply
or delivery chain which causes one or more of our customers to halt
production; work stoppages or production limitations at one or more
of our customer's facilities; a catastrophic loss of one of our key
manufacturing facilities; failure to protect our know-how and
intellectual property; the disruption or harm to our business as a
result of any acquisitions or joint ventures we make; a significant
increase in the prices of raw materials and commodities we use; the
damage to or termination of our relationships with key third-party
suppliers; our failure to maintain our cost structure; the
incurrence of significant costs if we close any of our
manufacturing facilities; potential significant costs at our
facility in Sandusky, Ohio; the
failure of or disruptions in our information technology networks
and systems, or the inability to successfully implement upgrades to
our enterprise resource planning systems; the incurrence of
significant costs, liabilities, and obligations as a result of
environmental requirements and other regulatory risks; extensive
and growing governmental regulations; the adverse impact of climate
change and related energy legislation and regulation; the
incurrence of material costs related to legal proceedings; our
inability to recruit and retain key personnel; any failure to
maintain satisfactory labor relations; pension and other
postretirement benefit obligations; risks related to our global
operations; competitive threats posed by global operations and
entering new markets; foreign exchange rate fluctuations; increased
costs and obligations as a result of becoming a public company; the
failure of our internal controls to meet the standards required by
Sarbanes-Oxley; our substantial indebtedness; our inability, or the
inability of our customers or our suppliers, to obtain and maintain
sufficient debt financing, including working capital lines; our
exposure to a number of different tax uncertainties; the mix of
profits and losses in various jurisdictions adversely affecting our
tax rate; disruption from the combination of our operations and
diversion of management's attention; our limited history of working
as a single company and the inability to integrate HHI, Metaldyne,
and Grede successfully and achieve the anticipated benefits.
For the reasons described above, we caution you against relying
on any forward-looking statements, which should also be read in
conjunction with the other cautionary statements that are included
elsewhere in this press release and in our public filings,
including under the heading "Risk Factors" in our filings that we
make from time to time with the Securities and Exchange Commission.
You should not consider any list of such factors to be an
exhaustive statement of all of the risks, uncertainties, or
potentially inaccurate assumptions that could cause our current
expectations or beliefs to change. Further, any forward-looking
statement speaks only as of the date on which it is made, and we
undertake no obligation to update or revise any forward-looking
statement to reflect events or circumstances after the date on
which the statement is made or to reflect the occurrence of
unanticipated events, except as otherwise may be required by
law.
Non-GAAP Financial Measures
Adjusted EBITDA
We define Adjusted EBITDA as net
income (loss) before interest expense, provision for (benefit from)
income taxes and depreciation and amortization, with further
adjustments to reflect the additions and eliminations of certain
income statement items, including (i) gains and losses on foreign
currency and fixed assets and debt transaction expenses, (ii)
stock-based compensation and other non-cash charges, (iii) sponsor
management fees and other income and expense items that we consider
to be not indicative of our ongoing operations, (iv) specified
non-recurring items and (v) other adjustments.
We believe Adjusted EBITDA is used by investors as a
supplemental measure to evaluate the overall operating performance
of companies in our industry. Management uses Adjusted EBITDA (i)
as a measurement to compare our operating performance on a
consistent basis, (ii) to calculate incentive compensation for our
employees, (iii) for planning purposes, including the preparation
of our internal annual operating budget, (iv) to evaluate the
performance and effectiveness of our operational strategies and (v)
to assess compliance with various metrics associated with our
agreements governing our indebtedness. Accordingly, we believe that
Adjusted EBITDA provides useful information to investors and others
in understanding and evaluating our operating performance in the
same manner as our management.
For a reconciliation of Adjusted EBITDA to net income, the most
directly comparable measure determined under U.S. generally
accepted accounting principles ("GAAP"), see "US GAAP
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA AND ADJUSTED FREE
CASH FLOW".
Adjusted Free Cash Flow
We define Adjusted Free Cash
Flow as Adjusted EBITDA less capital expenditures. Capital
expenditures can be found in our consolidated statements of cash
flows as a component of cash flows from investing activities. We
present Adjusted Free Cash Flow because our management considers it
to be a useful, supplemental indicator of our performance. When
measured over time, Adjusted Free Cash Flow provides supplemental
information to investors concerning our results of operations and
our ability to generate cash flows to satisfy mandatory debt
service requirements and make other non-discretionary
expenditures.
For a reconciliation of Adjusted Free Cash Flow to net income,
the most directly comparable GAAP measure, see "US GAAP
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA AND ADJUSTED FREE
CASH FLOW".
Contacts
Investor Relations
Paul Suber
Vice President, Business Development & Investor Relations
investors@mpgdriven.com
248-727-1829
METALDYNE
PERFORMANCE GROUP INC.
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions
except per share data)
|
|
|
|
|
|
September
27,
|
|
December
31,
|
|
|
2015
|
|
2014
|
|
|
|
|
|
Assets
|
|
|
|
|
Current
assets:
|
|
|
|
|
Cash and cash
equivalents
|
|
$
124.6
|
|
156.5
|
Receivables,
net:
|
|
|
|
|
Trade
|
|
385.0
|
|
312.9
|
Other
|
|
32.6
|
|
31.9
|
Total receivables, net
|
|
417.6
|
|
344.8
|
Inventories
|
|
189.9
|
|
204.8
|
Deferred income
taxes
|
|
8.1
|
|
12.4
|
Prepaid
expenses
|
|
12.8
|
|
13.0
|
Other
assets
|
|
14.3
|
|
14.5
|
Total current assets
|
|
767.3
|
|
746.0
|
|
|
|
|
|
Property and
equipment, net
|
|
759.3
|
|
750.2
|
Goodwill
|
|
907.7
|
|
907.7
|
Amortizable
intangible assets, net
|
|
726.3
|
|
778.5
|
Deferred income
taxes, noncurrent
|
|
2.4
|
|
1.4
|
Other
assets
|
|
39.0
|
|
40.8
|
|
|
|
|
|
Total assets
|
|
$
3,202.0
|
|
3,224.6
|
|
|
|
|
|
Liabilities and
Stockholders' Equity
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
Accounts
payable
|
|
$
249.2
|
|
285.5
|
Accrued
compensation
|
|
54.9
|
|
50.9
|
Accrued
liabilities
|
|
95.7
|
|
79.9
|
Short-term
debt
|
|
1.7
|
|
1.6
|
Current maturities,
long-term debt and capital lease obligations
|
|
15.1
|
|
16.5
|
Total current liabilities
|
|
416.6
|
|
434.4
|
|
|
|
|
|
Long-term debt,
less current maturities
|
|
1,859.4
|
|
1,920.3
|
Capital lease
obligations, less current maturities
|
|
22.4
|
|
23.4
|
Deferred income
taxes
|
|
231.1
|
|
260.7
|
Other long-term
liabilities
|
|
55.8
|
|
60.8
|
Total liabilities
|
|
2,585.3
|
|
2,699.6
|
|
|
|
|
|
Stockholders'
equity:
|
|
|
|
|
Common Stock: par
$0.001, 400,000 authorized, 67,592 and
|
|
|
|
|
67,075
issued and outstanding, respectively
|
|
0.1
|
|
0.1
|
Paid-in
capital
|
|
846.1
|
|
827.3
|
Accumulated
deficit
|
|
(177.2)
|
|
(269.7)
|
Accumulated other
comprehensive loss
|
|
(55.1)
|
|
(35.2)
|
Total equity attributable to stockholders
|
|
613.9
|
|
522.5
|
|
|
|
|
|
Noncontrolling
interest
|
|
2.8
|
|
2.5
|
Total stockholders' equity
|
|
616.7
|
|
525.0
|
|
|
|
|
|
Total liabilities and stockholders' equity
|
|
$
3,202.0
|
|
3,224.6
|
|
|
|
|
|
See accompanying
notes to unaudited condensed financial statements.
|
|
|
|
|
|
|
METALDYNE
PERFORMANCE GROUP INC.
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions
except per share amounts)
|
|
|
Quarter
Ended
|
|
Nine Months
Ended
|
|
September 27,
2015
|
|
September 28,
2014
|
|
September 27,
2015
|
|
September 28,
2014
|
|
|
|
|
|
|
|
|
Net sales
|
$
746.6
|
|
773.0
|
|
2,312.0
|
|
1,954.8
|
Cost of
sales
|
620.4
|
|
655.5
|
|
1,915.2
|
|
1,649.9
|
|
|
|
|
|
|
|
|
Gross
profit
|
126.2
|
|
117.5
|
|
396.8
|
|
304.9
|
Selling, general and
administrative expenses
|
64.8
|
|
64.7
|
|
178.8
|
|
134.3
|
Acquisition
costs
|
-
|
|
-
|
|
-
|
|
13.0
|
|
|
|
|
|
|
|
|
Operating
income
|
61.4
|
|
52.8
|
|
218.0
|
|
157.6
|
Interest expense,
net
|
26.0
|
|
28.4
|
|
80.5
|
|
70.4
|
Loss on debt
extinguishment
|
-
|
|
-
|
|
0.4
|
|
0.3
|
Other, net
|
(1.7)
|
|
(11.5)
|
|
(8.2)
|
|
(7.1)
|
|
|
|
|
|
|
|
|
Other expense,
net
|
24.3
|
|
16.9
|
|
72.7
|
|
63.6
|
|
|
|
|
|
|
|
|
Income before
tax
|
37.1
|
|
35.9
|
|
145.3
|
|
94.0
|
Income tax
expense
|
8.8
|
|
11.2
|
|
40.3
|
|
31.1
|
|
|
|
|
|
|
|
|
Net income
|
28.3
|
|
24.7
|
|
105.0
|
|
62.9
|
Income attributable
to noncontrolling interest
|
0.1
|
|
0.1
|
|
0.3
|
|
0.3
|
|
|
|
|
|
|
|
|
Net income
attributable to stockholders
|
$
28.2
|
|
24.6
|
|
104.7
|
|
62.6
|
|
|
|
|
|
|
|
|
Weighted average
shares outstanding
|
67.3
|
|
67.1
|
|
67.2
|
|
67.1
|
Cash dividends
declared per share
|
$
0.09
|
|
-
|
|
0.18
|
|
-
|
Net income per share
attributable to stockholders
|
|
|
|
|
|
|
|
Basic
|
0.42
|
|
0.37
|
|
1.56
|
|
0.93
|
Diluted
|
0.41
|
|
0.36
|
|
1.52
|
|
0.92
|
METALDYNE
PERFORMANCE GROUP INC.
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In
millions)
|
|
|
Nine Months
Ended
|
|
September 27,
2015
|
|
September 28,
2014
|
Cash flows from
operating activities:
|
|
|
|
Net income
|
$ 105.0
|
|
62.9
|
Adjustments to
reconcile net income to cash provided by operating
activities:
|
|
|
|
Depreciation and
amortization
|
172.1
|
|
152.4
|
Debt fee
amortization
|
2.4
|
|
5.5
|
Loss on fixed asset
dispositions
|
1.9
|
|
1.4
|
Deferred income
taxes
|
(25.9)
|
|
(15.6)
|
Noncash interest
expense
|
0.8
|
|
0.7
|
Stock-based
compensation expense
|
15.4
|
|
14.5
|
Foreign currency
adjustment
|
(3.6)
|
|
(10.1)
|
Other
|
5.4
|
|
1.7
|
Changes in assets and
liabilities:
|
|
|
|
Receivables,
net
|
(78.3)
|
|
(46.7)
|
Inventories
|
9.8
|
|
(3.3)
|
Accounts payable,
accrued liabilities and accrued compensation
|
11.2
|
|
32.5
|
Other,
current
|
(0.7)
|
|
(6.9)
|
Other,
non-current
|
(3.9)
|
|
1.5
|
Net cash provided by
operating activities
|
211.6
|
|
190.5
|
Cash flow from
investing activities:
|
|
|
|
Capital
expenditures
|
(168.7)
|
|
(102.2)
|
Proceeds from sale of
fixed assets
|
3.8
|
|
0.5
|
Capitalized patent
costs
|
(0.3)
|
|
(0.2)
|
Grede Transaction, net
of cash acquired
|
-
|
|
(829.7)
|
Net cash used for
investing activities
|
(165.2)
|
|
(931.6)
|
Cash flows from
financing activities:
|
|
|
|
Dividends
|
(12.1)
|
|
(111.3)
|
Other stock
activity
|
-
|
|
(2.4)
|
Excess tax benefit on
stock-based compensation
|
1.8
|
|
-
|
Proceeds from stock
issuance
|
2.5
|
|
260.5
|
Cash settlement of equity awards
|
(0.7)
|
|
-
|
Borrowings of
revolving lines of credit
|
14.3
|
|
364.1
|
Payments of revolving
lines of credit
|
(14.6)
|
|
(361.5)
|
Proceeds of long-term
debt
|
1,326.6
|
|
715.0
|
Payments on long-term
debt
|
(1,385.2)
|
|
(13.0)
|
Payment of debt issue
costs
|
(0.1)
|
|
(20.2)
|
Other debt,
net
|
(1.9)
|
|
(5.5)
|
Payment of offering
related costs
|
(0.1)
|
|
-
|
Net cash used for
financing activities
|
(69.5)
|
|
825.7
|
Effect of exchange
rates on cash
|
(8.8)
|
|
(3.9)
|
Net increase
(decrease) in cash and cash equivalents
|
$
(31.9)
|
|
80.7
|
Cash and cash
equivalents:
|
|
|
|
Cash and cash
equivalents, beginning of period
|
156.5
|
|
68.2
|
Net increase
(decrease) in cash and cash equivalents
|
(31.9)
|
|
80.7
|
Cash and cash
equivalents, end of period
|
$
124.6
|
|
148.9
|
Supplementary cash
flow information:
|
|
|
|
Cash paid for income
taxes, net
|
$
47.8
|
|
52.7
|
Cash paid for
interest
|
66.1
|
|
44.1
|
Noncash
transactions:
|
|
|
|
Capital expenditures
in accounts payables
|
16.5
|
|
12.2
|
Dividends declared on
restricted stock awards, not yet vested
|
0.2
|
|
|
METALDYNE
PERFORMANCE GROUP INC.
US GAAP
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA
AND ADJUSTED FREE
CASH FLOW
(In
millions)
|
|
|
|
Quarter
Ended
|
|
Nine Months
Ended
|
|
|
September 27,
2015
|
|
September 28,
2014
|
|
September 27,
2015
|
|
September 28,
2014
|
Net income
attributable to stockholders
|
|
$ 28.2
|
|
24.6
|
|
104.7
|
|
62.6
|
Income attributable
to noncontrolling interest
|
|
0.1
|
|
0.1
|
|
0.3
|
|
0.3
|
Net
income
|
|
$ 28.3
|
|
24.7
|
|
105.0
|
|
62.9
|
|
|
|
|
|
|
|
|
|
Addbacks to Arrive
at Unadjusted EBITDA
|
|
|
|
|
|
|
|
|
Interest expense,
net
|
|
$ 26.0
|
|
28.4
|
|
80.5
|
|
70.4
|
Loss on debt
extinguishment
|
|
-
|
|
-
|
|
0.4
|
|
0.3
|
Income tax
expense
|
|
8.8
|
|
11.2
|
|
40.3
|
|
31.1
|
Depreciation and
amortization
|
|
56.9
|
|
62.0
|
|
172.1
|
|
152.5
|
Unadjusted
EBITDA
|
|
$ 120.0
|
|
126.3
|
|
398.3
|
|
317.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments to
Arrive at Adjusted EBITDA
|
|
|
|
|
|
|
|
(Gain) loss on
foreign currency
|
|
$ (2.8)
|
|
(13.2)
|
|
(11.7)
|
|
(11.5)
|
Loss on fixed
assets
|
|
1.5
|
|
0.2
|
|
1.9
|
|
1.4
|
Debt transaction
expenses
|
|
-
|
|
-
|
|
1.7
|
|
2.8
|
Stock-based
compensation expense
|
|
7.9
|
|
9.9
|
|
15.4
|
|
14.5
|
Sponsor management
fee
|
|
-
|
|
1.5
|
|
-
|
|
3.7
|
Non-recurring
acquisition and purchase accounting related items
|
1.3
|
|
4.7
|
|
1.4
|
|
22.8
|
Non-recurring
operational items
|
|
0.9
|
|
0.9
|
|
8.0
|
|
2.1
|
Adjusted
EBITDA
|
|
$ 128.8
|
|
130.3
|
|
415.0
|
|
353.0
|
|
|
|
|
|
|
|
|
|
Capital
expenditures
|
|
53.7
|
|
44.1
|
|
168.7
|
|
102.2
|
|
|
|
|
|
|
|
|
|
Adjusted Free Cash
Flow
|
|
$ 75.1
|
|
86.2
|
|
246.3
|
|
250.8
|
|
|
|
|
|
|
|
|
|
METALDYNE
PERFORMANCE GROUP INC.
RECONCILIATION OF
2015 GUIDANCE
OF NET INCOME TO
ADJUSTED EBITDA
(In
millions)
|
|
|
2015
Guidance
|
|
2015
Guidance
|
|
Low End of
Range
|
|
High End of
Range
|
Net income
attributable to
stockholders
|
115.9
|
|
144.6
|
Income attributable
to noncontrolling interest
|
0.3
|
|
0.3
|
Net
income
|
116.2
|
|
144.9
|
|
|
|
|
Addbacks to Arrive
at Unadjusted EBITDA
|
|
|
|
Interest expense,
net
|
106.6
|
|
106.6
|
Income tax
expense
|
45.7
|
|
57.0
|
Depreciation and
amortization
|
230.1
|
|
230.1
|
Unadjusted
EBITDA
|
498.6
|
|
538.6
|
|
|
|
|
|
|
|
|
Adjustments to
Arrive at Adjusted EBITDA
|
|
|
|
Gain on foreign
currency
|
(11.7)
|
|
(11.7)
|
Stock-based
compensation expense
|
20.1
|
|
20.1
|
Non-recurring
operational items and other (1)
|
13.0
|
|
13.0
|
Adjusted
EBITDA
|
520.0
|
|
560.0
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Non-recurring
operational items include impairment charges associated with the
closing of the Berlin, Wisconsin facility, disposed operations,
restructuring costs, debt transaction related expenses and
other.
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/mpg-reports-strong-third-quarter-results-significant-year-to-date-growth-and-continued-record-new-business-awards-300170917.html
SOURCE Metaldyne Performance Group Inc.