Asahi Tec Corporation (Shizuoka, Japan) has completed the acquisition of Metaldyne Corporation (Plymouth, Mich.) for approximately $1.2 billion, including assumption of Metaldyne's debt. Metaldyne is a leading global supplier of powertrain and chassis systems and components. Asahi Tec is a chassis and powertrain component supplier in the passenger car/light truck and medium/heavy truck segments. The transaction will expand the reach of both companies in Asia, North America and Europe.

According to Metaldyne, which has annual revenues of approximately $1.9 billion and employs more than 6,500 employees, the transaction will broaden manufacturing capabilities of PM parts, aluminum castings, ductile iron castings and precision machining. Metaldyne will operate as a subsidiary of Asahi Tec and keep its name.