Timothy D. Leuliette, the former Metaldyne Corp. chairman and CEO who remained with the organization during and after its consolidation with Asahi Tec Corp. earlier this year, is leaving the group in January. Thomas A. Amato will replace him as co-CEO of Asahi Tec and chairman of Metaldyne.
Amato has been v.p.-corporate development and treasury of Metaldyne. He is a veteran executive of the company, and its predecessor MascoTech, and is said to have been instrumental in the Asahi Tec/Metaldyne merger in January 2007.
"January 11th will mark the first anniversary of the merger of these two great companies," Leuliette stated. "I am pleased with the acceptance by our combined global customer base and the strength of the business model.”
In September 2006, Metaldyne agreed to be acquired in a $1.2-billion takeover by Asahi Tec, forming a global manufacturer of engineered automotive components. Metaldyne manufactures powertrain components and chassis systems; Asahi Tec produces ductile-iron and aluminum castings for components supplied to automotive, truck, and construction equipment builders. It also produces aluminum automotive wheels.
Asahi Tec director Thomas T. Stallkamp will become co-chairman of Asahi Tec, with Shoichiro Irimajiri. Stallkamp is an industrial partner with Ripplewood Holdings L.L.C., which owns Belgium-based RHJ International, Asahi Tec's largest shareholder.
Tom Chambers will continue as president and COO of Metaldyne.
"Metaldyne has a sound business foundation and a strong management team," stated 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."
Leuliette Leaving Metaldyne / Asahi Tec
Metaldyne veteran Amato assumes post in January