SOUTHFIELD, Mich., Dec. 9,
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,
announced today that Thomas Amato,
Co-President of MPG and President & CEO of Metaldyne, LLC
("Metaldyne") will leave the company to pursue other
interests, effective at the end of 2015.
Metaldyne, LLC was acquired by American Securities LLC
("American Securities"), a leading U.S. private equity firm, in
December 2012 and was later merged
with Grede Holdings LLC and HHI Group Holdings LLC, both companies
majority-owned by American Securities, to form MPG in August
2014. The merger created an approximately $3.0 billion automotive and industrial parts
supplier. In December 2014, MPG
went public on the New York Stock Exchange.
"On behalf of the MPG Board, we would like to thank Tom for his
leadership and contributions to Metaldyne and MPG," said
Kevin Penn, Chairman of MPG.
"I met Tom in 2012 during the process through which American
Securities acquired Metaldyne, and we have always been impressed
with his leadership style. Tom was instrumental in the
creation of MPG, taking on the additional role of Chief Integration
Officer, in which he did a terrific job bringing together the
companies. We would like to thank him for his efforts,
commitment, and dedication."
Amato joined the predecessor company to Metaldyne, MascoTech
Inc., in 1994 as director of corporate development. He later
served in a number of financial, operating and commercial
roles. In 2007, he was named Chairman and CEO of Metaldyne
and co-CEO of Asahi Tec, the then-parent company of
Metaldyne. He led an extensive turnaround through the global
financial crisis in 2008 to 2009, where Metaldyne was re-formed as
an independent company and sold to a group of investors. Amato
continued as President & CEO through the sale to American
Securities in 2012 and through the merger and formation of MPG and
subsequent IPO.
Concurrent with Amato's departure, Douglas Grimm, currently Co-President of MPG,
has been named President & Chief Operating Officer with
responsibility for all operating activities of the various MPG
operations and Russell Bradley has
been named Executive Vice President of Sales with responsibility
for coordinating the sales efforts of the operating
divisions. "Doug and Russ are both highly-accomplished
industry executives and have been instrumental in leading their
legacy companies' growth over the past decade," noted George Thanopoulos, Chief Executive Officer of
MPG.
About Metaldyne Performance Group
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.
About American Securities LLC
American Securities is a leading U.S. private equity firm with
approximately $15 billion under
management. Based in New
York with an office in Shanghai, American Securities invests in
market-leading North American companies with annual revenues
generally ranging from $200 million to $2
billion and/or $50 million to $200
million of EBITDA.
www.american-securities.com
Contact Information:
For MPG:
Media
Erin Millerschin
(248)-276-1970
emillerschin@millerschingroup.com
Investors
Paul Suber
248-727-1824
psuber@mpgdriven.com
For American Securities, please contact:
Caroline Harris-Gibson or Andrew
McGloin
Prosek Partners
212-279-3115 x222 / 211
cgibson@prosek.com / amcgloin@prosek.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/thomas-amato-co-president-of-metaldyne-performance-group-and-president-and-ceo-of-metaldyne-llc-to-depart-company-300190416.html
SOURCE Metaldyne Performance Group Inc.