ST. CLOUD -- A St. Cloud foundry is operating under new ownership.

On Monday, Gamunt Capital Management agreed to acquire all Grede operations from American Axle & Manufacturing Holdings, Inc. The acquisition now allows Grede to operate as its own independent entity, instead of serving as a division of American Axle.

The Michigan-base company has about 3,8000 employees across 10 facilities in the United States, including St. Cloud.

Grede CEO Cary Wood says locally, the move won't impact the St. Cloud facility, which they view as an important asset to their portfolio.

I think it's a matter of assessing what we can do to help them. That facility today has unique and different operations. We have high value in what we believe its future potential to be.

The St. Cloud location has been in operation since 1995 and has about 400 employees.

Grede is the leading developer, manufacturer assembler and supplier of cast iron and machined components for the automotive, commercial vehicle and industrial markets.

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