The company put the property on the market in July and has yetto find a taker. Plymouth, MI-based Metaldyne is a wholly-ownedsubsidiary of Asahi Tec of Japan. "After several months we were notable to find a buyer for the Niles plant and given the lowerindustry volumes we now need to accelerate the closure of theoperation," says Thomas Amato, Metaldyne chairman and CEO andco-CEO of Asahi Tec, in a statement. "This action is in line withour product and cost streamlining efforts."

The closing of the Niles plant is one of several steps Metaldynehas taken this year to improve cash flow and reduce costs. Thecompany has also announced plans to close Chassis facilities inFarmington Hills, MI, and Greenville, NC, and an administrativeoffice in Plymouth. Metaldyne has annual revenues of around $1.8billion, and employs more than 5,600 employees at 33 facilitiesacross 14 countries.