Metaldyne Performance Group reports profit up 6% during Q1
May 10, 2016
Metaldyne Performance Group Inc. has reported net sales of $739.5 million for the first quarter 2016, compared to $765.2 million in Q1 2015. Gross profit, however, was reported at $136.5 million for the quarter, an increase of 6% from Q1 2015.
Commenting on the company’s results, George Thanopoulos, Chief Executive Officer of MPG, stated “We are extremely pleased with our first quarter results. Expansion of our margins and continued strong EBITDA despite certain macro headwinds show the strength in our business. Our solid cash flow gave us flexibility to increase our dividend, start our share repurchase program and build cash on the balance sheet. We are continuing to win new business and focus on fast growing powertrain applications. We are looking forward to a successful year in 2016.”
Metaldyne Performance Group is a provider of highly-engineered components for use in powertrain and safety-critical platforms for the global light, commercial and industrial vehicle markets. The company’s metal-forming manufacturing technologies and processes include aluminum die casting, forging, iron casting, Powder Metallurgy and Metal Injection Moulding as well as advanced machining and assembly.
Headquartered in Southfield, Michigan, Metaldyne Performance Group has a global footprint spanning 60 locations in 13 countries across North America, South America, Europe and Asia with approximately 12,000 employees.