Timothy D. Leuliette to Step Down as Asahi Tec Co-Chairman and Co-CEO, Thomas A. Amato Named Co-CEO; Thomas T. Stallkamp Named Co-Chairman

PLYMOUTH, Mich., Nov. 15, 2007 -- The Asahi Tec board of directors and Timothy D. Leuliette, co-chairman and co-CEO, Asahi Tec Corporation and chairman and CEO of its subsidiary Metaldyne Corporation, announced today that Leuliette intends to step down from his roles at both companies effective January 11, 2008.

Thomas A. Amato has been named co-CEO of Asahi Tec and chairman and CEO of Metaldyne, succeeding Leuliette. Amato was executive vice president, corporate development officer and treasury, Metaldyne. Asahi Tec Director Thomas T. Stallkamp becomes co-chairman of Asahi Tec with Shoichiro Irimajiri who continues in that role. Stallkamp is also an industrial partner with Ripplewood Holdings LLC, which owns Belgium-based RHJ International, Asahi Tec's largest shareholder. Amato and Stallkamp assume their new positions effective with Leuliette's departure.

Tom Chambers continues as president and COO of Metaldyne, Asahi Tec's largest subsidiary with annual revenues of $1.8 billion.

Hideo Ishii continues as co-CEO of Asahi Tec as well as a director and representative executive officer.

"Metaldyne has a sound business foundation and a strong management team," said Irimajiri. "Tom Amato and Tom Chambers are proven leaders who will continue to execute Metaldyne's growth plan and are committed to delivering products and services that meet and exceed our customers' needs."

Amato has been with Metaldyne and its predecessor company, MascoTech, for more than 12 years holding leadership roles in corporate development, sales, purchasing, and finance. He was instrumental in the completion of the Asahi Tec/Metaldyne merger, which was finalized on January 11, 2007.

That transaction expanded the global footprint and product portfolio for both companies and created a stronger global automotive supplier of highly engineered, precision modules and components for powertrain and chassis that could better serve its global customers on a local basis. At that time Leuliette was named co-chairman and co-CEO of Asahi Tec.

"We are very grateful for Tim's leadership," the Asahi Tec board said. "His vision, commitment and willingness to take bold actions brought about the Asahi Tec/Metaldyne merger, which was the first merger of this kind between a Japanese and American company. "

This new business model allows Asahi Tec to benefit from globalization and positions the company for growth in the rapidly developing Asian market as well as in North America and Europe. It also created a strong, experienced management team.

Since the acquisition of Metaldyne became final on January 11, 2007, Asahi Tec has booked more than $1 billion in new business with its European, North American, Japanese, Korean and Chinese customers. The new business covers powertrain and chassis programs and is based on the expected length of agreements and their annual business revenue.

Asahi Tec is aggressively expanding in Asia. By 2009 almost half of its business will either be with Asian automakers or with the Asian operations of North American- and European-based manufacturers.

"January 11th will mark the first anniversary of the merger of these two great companies," Leuliette said. "I am pleased with the acceptance by our combined global customer base and the strength of the business model. Most importantly, the leadership team at the new Asahi Tec is well-respected and made up of capable individuals who can take this company to the next level. I leave knowing the company is in good hands and has a bright future."

Metaldyne was created in 2000 by combining MascoTech and Simpson Industries and later adding GMTI, a Dana Corporation facility in Greensboro, N.C., and a Chrysler plant in New Castle, Ind.

For biographies of the management team please go to http://www.metaldyne.com/metaldyne/sections/about/leadership_team.aspx.

About Asahi Tec

Headquartered in Shizuoka, Japan, Asahi Tec primarily designs, manufactures and sells ductile iron cast auto parts for truck and construction machinery OEMs, aluminum casting parts for truck and passenger car OEMs and aluminum wheels for automobile OEMs. Asahi Tec also designs, manufactures and sells environmental systems, equipment and development technologies used by local governments and municipalities and electrical hardware and equipment used by electricity generators.

Its subsidiary, 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. It is headquartered in Plymouth, Mich.

Asahi Tec has annual revenues of approximately $2.7 billion and employs approximately 10,000 employees at 55 facilities in 15 countries. For more information, please visit www.asahitec.co.jp and www.metaldyne.com.

This press release contains statements that are not statements of historical fact, but instead are forward-looking statements, as that term is defined by the federal securities laws. We caution readers not to place undue reliance on these forward-looking statements, which reflect management's expectations, estimates and assumptions based on information available as of the date hereof. Important factors that could cause actual results, performance or achievements to vary materially from those expressed or implied by the forward-looking statements are set forth in our Annual Report on the Equivalent of Form 10-K for the fiscal year ended December 31, 2006, our Transition Report for the Three Months ended April 1, 2007, and our subsequent Quarterly Reports, and include: our high degree of leverage; substantial restrictions in our credit facilities and other debt; consolidation or declining financial condition of our customers; adequacy of our liquidity; seasonal fluctuations in our business; inability to meet future capital requirements; our industry's cyclicality and highly competitive nature; inability to lower costs and obtain favorable contracts to offset the industry model of declining component prices over time; inability to expand into new product lines; inability to achieve profitability given our recent net losses; availability and affordability of raw materials; changing technology could place us at a competitive disadvantage; inability to establish manufacturing capabilities in lower-cost areas; inability to quickly replace any diminished or lost business due to the length of the sales process; lack of binding purchase commitments from customers; costs potentially exceeding estimates used in pricing our products; higher research and development costs may not be recouped; business alliances may not produce satisfactory results; customer consolidation resulting in increased difficulty to compete; our employee benefit obligations may negatively impact future liquidity; inability to protect our intellectual property rights; environmental compliance obligations and liabilities; risks related to international sales; inability to meet obligations for any product liability and warranty claims; labor stoppages at our facilities or those of our customers; failure of anticipated outsourcing due to union considerations; and dependence on key personnel and relationships. We do not intend or assume any obligation to update any of these forward-looking statements.