Released on August 7, 2009

Automotive components manufacturer Metaldyne Corp., Plymouth, Mich., announced it has sold substantially all of its assets to MD Investors Corp., an investment coalition formed by several of the troubled company’s existing lenders.

Metaldyne, which maintains metalcasting facilities in addition to other manufacturing plants, announced on May 27 it was filing for Chapter 11 bankruptcy protection and would seek a buyer. The filing did not include the company’s non-U.S. operations or parent company Asahi Tec Corp., Shiuzuoka, Japan.

Metaldyne has significantly reduced its metalcasting capacity since its purchase by Asahi Tec in 2007 and was advised by the parent company in the wake of the bankruptcy filing that it would focus on its Japanese businesses and no longer continue its economic support.

In connection with the filing, Metaldyne entered into a nonbinding letter of intent to sell some of its assets to private equity firm the Carlyle Group, which recently helped form MD Investors Corp. in order to submit the highest bid for Metaldyne. In addition to the Carlyle Group, the newly formed company is spearheaded by investment advisor Solus Alternative Asset Management LP.

“We are very pleased Carlyle, Solus and a group of our term lenders have agreed to purchase substantially all of Metaldyne’s businesses,” said Thomas Amato, chairman, president and CEO of Metaldyne. “It has always been our plan to divest our better performing operations in connection with our overall Chapter 11 restructuring.”

Metaldyne had revenues in 2008 of approximately $1.57 billion and employs more than 4,400 employees at 33 facilities in 14 countries.