Brillion-based iron foundry Brillion Iron Works today was sold to Southfield, Michigan-based Metaldyne Performance Group Inc. for $14 million.
Brillion Iron Works was sold by parent company Accuride Corp., an Evansville, Indiana-based vehicle components distributor. Brillion specializes in casting design and production of gray, ductile and austempered ductile iron castings. Its parts are used in light and commercial vehicles, as well as agricultural, construction, oil and gas and mining equipment. Its capabilities range from highly-cored, heavy-sectioned castings to intricate, thin-walled castings.
Brillion has about 357 employees, who were retained in the transaction, according to an Accuride spokesman.
Metaldyne manufactures lightweight components used in powertrain and suspension applications in the global light, commercial and industrial vehicle markets. Among its capabilities are aluminum die casting, forging, iron casting and powder metal forming. With a network of 12,000 employees at 60 facilities in 13 countries, MPG supplies vehicle OEMs and Tier 1 suppliers.
According to a statement from Metaldyne, the addition of Brillion Iron Works will enhance its existing casting operations.
"MPG has completed 10 acquisitions over the past decade and we have successfully integrated all of them," said George Thanopoulos, CEO of MPG. "Our customers are very supportive of this bolt-on transaction given our successful history of acquisitions and the current depressed state of the industrial and heavy truck markets."
“Today’s action will enable Accuride to focus completely on our strategic vision to be the premier supplier of wheel-end system solutions to the global commercial vehicle industry,” said Rick Dauch, president and chief executive officer of Accuride.
A representative of MPG and Brillion Iron Works could not be reached for further information.