Metaldyne and Dongfeng Announce Memorandum of Understanding to Explore Joint Venture in China

PLYMOUTH, Mich., June 9 -- Metaldyne and Dongfeng Motor Co. Ltd. announce today they have signed a memorandum of understanding to explore a joint venture in China. The potential joint venture would focus on the manufacturing and sales of powder metal-based products and assemblies for the local transportation market.

"Metaldyne is pleased to announce this relationship with Dongfeng. The potential joint venture would position Metaldyne to play a larger role as a systems and module supplier in the Asia Pacific region," said Scott Ferriman, senior vice president, Metaldyne Asia Pacific.

"We hope that the MOU with Dongfeng will be a catalyst for the Metaldyne footprint in China. Our manufacturing presence in Asia is a critical part of our growth strategy," adds Tim Leuliette, Metaldyne's chairman, president and CEO.

"This project between Metaldyne and Dongfeng will benefit both sides and will potentially lead to a win-win joint venture for powder metal-based products. These products have a bright future in the ever-growing automotive market inside China and around the world," said Mr. Wengyunzhong, Deputy Executive General Manager of Parts & Components Business Unit, Dongfeng Co. Ltd.

About Dongfeng Motor Co. Ltd.

Dongfeng Motor Co. Ltd. is a joint venture between Nissan Motor Co Ltd and Dongfeng Motor Corporation, one of China's leading auto makers.

Considered one of the largest JVs in the country's automotive industry, Dongfeng Motor Co. Ltd. has been registered in Wuhan, capital of Central China's Hubei Province, with a combined investment of over US $2 billion. With 70,000 employees, the joint venture produces automobiles ranging from cars, trucks and minivans to buses at three separate bases in Guangzhou, capital of South China's Guangdong Province, and Xiangfan and Shiyan cities, both in Hubei Province.

About Metaldyne

Metaldyne is a leading global designer and supplier of metal-based components, assemblies and modules for transportation-related powertrain and chassis applications including engine, transmission/transfer case, wheel-end and suspension, axle and driveline, and noise and vibration control products to the motor vehicle industry. The company serves the automotive segment through its Chassis, Driveline, and Engine Groups.

Headquartered in Plymouth, Mich., Metaldyne has annual revenues of approximately $2 billion. The company employs over 7,500 employees at nearly 50 facilities in 12 countries.