Metaldyne and DaimlerChrysler joint venture

Automotive Industries,  Jan, 2003  

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Metaldyne Corp. and DaimlerChrysler Corp. have closed on a transaction to operate the Chrysler Group's New Castle (Ind.) Machining and Forge facility as a joint venture. The joint venture will be known as NC-M Chassis Systems, LLC. Metaldyne, which will oversee daily operations, will hold 40 percent of common stock, while the Chrysler Group will hold 60 percent of common stock.

The New Castle Machining and Forge plant manufactures suspension and power-train components for Chrysler, Jeep and Dodge vehicles, and employs approximately 1,300 people. The plant operates in a 1.1 million sq.ft. facility, and will complete a 500,000 sq.ft. facility in 2003 where new components for the Chrysler Group will be produced.

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