SOUTHFIELD, Mich. — Grede, the leading developer, manufacturer, assembler and supplier of ductile, gray, and specialty iron castings and machined components for automotive, commercial vehicle and industrial markets, announced its first day of operations as an independent company.  Grede has a foundry in Browntown.

As previously announced on Sept. 18, funds managed by Gamut Capital Management, a New York-based private investment firm, agreed to acquire Grede from American Axle & Manufacturing Holdings, Inc.

Based in Southfield, Mich., Grede has approximately 3,800 employees across 10 facilities in Alabama, Indiana, Michigan, Minnesota, North Carolina and Wisconsin. 

Grede has a long history of success dating back to its founding in 1920 when William J. Grede purchased Liberty Foundry near Milwaukee.

The company also announced that Cary Wood had been appointed chief executive officer. In addition, Paul Suber has been named chief operating officer, Mike Lobbia has been named chief financial officer and Tony Lovell has been named president-head of commercial.