Metaldyne Corp., a producer of metal-based components, assemblies and modules for car and truck manufacturers that filed for Chapter 11 bankruptcy protection in May, has completed the sale of substantially all of its assets to MD Investors Corp. for $40 million in cash and the assumption of certain debts and obligations.

MD Investors, formed earlier this year by a coalition of Metaldyne's existing term lenders led by Carlyle Group, purchased assets related to Metaldyne's sintered...