Exhibit 99.2

INDEPENDENT AUDITOR’S REPORT

To the Board of Directors of

T & W Forge, Inc.

We have audited the balance sheets of T & W Forge, Inc. (an S corporation) as of October 31, 2009 and 2008, and the related statements of operations, changes in shareholders’ equity and cash flows for the years then ended. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of T & W Forge, Inc. as of October 31, 2009 and 2008, and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

/s/ Brockman, Coats, Gedelian & Co.

January 13, 2010

T & W FORGE, INC.

BALANCE SHEETS

October 31, 2009 and 2008

The accompanying notes are an integral part of these financial statements.

T & W FORGE, INC.

STATEMENTS OF OPERATIONS

for the years ended October 31, 2009 and 2008

The accompanying notes are an integral part of these financial statements.

T & W FORGE, INC.

STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

for the years ended October 31, 2009 and 2008

The accompanying notes are an integral part of these financial statements.

T & W FORGE, INC.

STATEMENTS OF CASH FLOWS

for the years ended October 31, 2009 and 2008

The accompanying notes are an integral part of these financial statements.

T & W FORGE, INC.

STATEMENTS OF CASH FLOWS, Continued

for the years ended October 31, 2009 and 2008

The accompanying notes are an integral part of these financial statements.

T & W FORGE, INC.

NOTES TO FINANCIAL STATEMENTS

for the years ended October 31, 2009 and 2008

Nature of Business – The Company’s operations consist primarily of manufacturing metal forgings for the aerospace, power generation and heavy-duty truck and equipment industries. The majority of the Company’s business activity is with customers located within the United States.

Accounts Receivable – Accounts receivable are stated at the amount management expects to collect from outstanding balances. Management provides for probable uncollectible amounts through a provision for bad debt expense and an adjustment to a valuation allowance based on its assessment of the current status of individual accounts. Receivables are considered impaired if payments are not received in accordance with the contractual terms. Balances that are still outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable.

The Company performs ongoing credit evaluations of customers and, generally, requires no collateral. The accounts receivable have been adjusted for all known uncollectible accounts with an allowance for doubtful accounts of $19,000 at October 31, 2009 and 2008.

Inventories – The Company values its inventories at the lower of cost or market with cost determined by the last-in, first-out (LIFO) method. If the first-in, first-out (FIFO) method was used to value inventories, reported inventories would have increased by $325,325 and $394,754 at October 31, 2009 and 2008, respectively, and net income would have decreased by $69,429 in 2009 and increased by $85,053 in 2008.

Property and Equipment – Property and equipment are carried at cost. Major additions and improvements are charged to the property accounts while replacements, maintenance and repairs which do not improve or extend the lives of the respective assets are expensed currently. When property or equipment is retired or otherwise disposed of, the cost is removed from the asset account, accumulated depreciation or amortization is charged with an amount equivalent to the depreciation or amortization provided, and the difference is charged or credited to operations.

Depreciation – Depreciation has been provided using straight-line and accelerated methods for both financial statement and income tax reporting purposes.

Income Taxes – The Company, with the consent of its shareholders, has elected to be an S corporation under the provisions of the Internal Revenue Service. Under the provisions for an S corporation, the Company will not pay corporate income taxes on its taxable income. In lieu of corporate income taxes, the shareholders will be taxed on their proportionate share of the Company’s taxable income.

Statements of Cash Flows – For purposes of the statements of cash flows, cash includes cash on hand and demand deposits.

Advertising – The Company follows the policy of charging the costs of advertising to expense as incurred. No advertising expense was incurred in 2009 or 2008.

T & W FORGE, INC.

NOTES TO FINANCIAL STATEMENTS, Continued

for the years ended October 31, 2009 and 2008

Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While actual results could differ from those estimates, management does not expect those differences to be significant to the financial statements.

New Accounting Pronouncements – During 2009, the Company adopted the following new accounting pronouncement:

Fair Value Measurements establishes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. This new standard results in expanded disclosures (see Note 7) of information related to the Company’s assets and liabilities that are reported at fair value.

Subsequent Events, although it does not change existing guidance on recognition and disclosure of subsequent events, it requires disclosure of the date through which the Company has evaluated subsequent events. Management of the Company has evaluated subsequent events through January 13, 2010, the date the financial statements were available to be issued.

Inventories consist of the following:

T & W FORGE, INC.

NOTES TO FINANCIAL STATEMENTS, Continued

for the years ended October 31, 2009 and 2008

Property and equipment consist of the following:

The Company has a line of credit and a note payable under one loan and security agreement with a bank. Under the terms of the line of credit agreement, the Company can borrow the lesser of $3,000,000 or the borrowing base. The borrowing base was approximately $2,307,000 and $2,656,000 at October 31, 2009 and 2008, respectively. The agreement provides for a line of credit at the bank’s one month LIBOR plus 2.25% (one-month LIBOR was 0.24% at October 31, 2009) and is due on demand. Both the line of credit and the note are collateralized by substantially all assets of the Company and contain various restrictive covenants. There were no amounts outstanding on the line of credit at October 31, 2009 and 2008.

Long-term debt consists of the following at October 31:

The Company had a promissory note with a related party totaling $750,000 at October 31, 2008 and bearing interest at 8.25% per annum. The note was repaid in full during 2009. Interest on these notes totaled $3,125 in 2009 and $10,375 in 2008.

T & W FORGE, INC.

NOTES TO FINANCIAL STATEMENTS, Continued

for the years ended October 31, 2009 and 2008

Aggregate maturities of long-term debt as of October 31, 2009 are as follows:

Subsequent to October 31, 2009, the Company, in conjunction with Transue & Williams Stamping Co., Inc. and MC Machine LLC, related parties, entered into a new line of credit agreement with a bank. Joint borrowings available on the line total $8,000,000, subject to a borrowing base. Required payments on the line are interest only starting January 5, 2010, with total outstanding principal and interest due December 17, 2010. Interest is at the bank’s LIBOR rate plus 2.75%. Amounts outstanding on the lines of credit among the three entities totaled $1,332,000 at October 31, 2009. In addition, the term debt outstanding as of December 18, 2009 is now deemed to be payable by the Company and the related parties jointly. Total term debt among the three entities totaled $2,247,750 at October 31, 2009.

The Company is affiliated through common ownership with various corporations and partnerships. The Company has a management agreement with an affiliate for financial and managerial services and incurred related expenses totaling $262,663 in 2009 and $230,005 in 2008. The Company also leases its facilities under an operating lease from a related party as described in Note 8. Accounts payable with a related party totaled $21,056 and $23,027 as of October 31, 2009 and 2008, respectively. In addition, accrued expenses with a related party totaled $5,769 and $0 at October 31, 2009 and 2008, respectively. Accounts receivable with related parties totaled $0 and $10,894 as of October 31, 2009 and 2008, respectively.

Notes receivable from related parties totaled $2,900,000 at October 31, 2009 bearing interest at 5% per annum. Management expects the balances to be paid in full during 2010. There were no notes receivable from related parties at October 31, 2008.

Deposits totaled $21,590 at October 31, 2009 and 2008 for advances on behalf of another related party.

In addition, borrowings from related parties totaled $750,000 at October 31, 2008, which were repaid during 2009, as described in Note 4.

T & W FORGE, INC.

NOTES TO FINANCIAL STATEMENTS, Continued

for the years ended October 31, 2009 and 2008

The Company maintains a 401(k) savings and investment plan covering substantially all salaried employees. Under the terms of the plan, employees may voluntarily contribute a percentage of their compensation to the plan. Employer contributions made to this plan totaled $15,541 in 2009 and $16,865 in 2008.

In addition, the Company contributed $1.06 per hour worked for all union employees to a multi-employer pension plan. Contributions to this plan totaled $84,871 in 2009 and $95,859 in 2008.

The Company also maintains postretirement benefits for all hourly employees who retire between the ages of 63 and 65. These benefits include monthly disbursements directly to eligible retirees of $500 for families and $250 for individuals to help cover medical insurance expenses. These benefits are provided until the retiree reaches the age of 65.

The following sets forth the Plan’s status at October 31:

The following amounts are recognized in the balance sheets and the statements of changes in shareholders’ equity for 2009 and 2008.

T & W FORGE, INC.

NOTES TO FINANCIAL STATEMENTS, Continued

for the years ended October 31, 2009 and 2008

The following table presents selected information on the Company’s postretirement plan:

Expected amortization expense for 2010 is $2,103.

Expected future benefit payments are as follows:

During 2009, the Company adopted new accounting standards titled, Fair Value Measurements, which establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under the new accounting standards are as follows:

Level 1 – Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly, including inputs in markets that are not considered to be active.

Level 3 – Inputs that are unobservable for the asset or liability.

T & W FORGE, INC.

NOTES TO FINANCIAL STATEMENTS, Continued

for the years ended October 31, 2009 and 2008

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers other specific factors. The following section describes the valuation techniques used to measure different financial instruments at fair value and includes the level within the fair value hierarchy in which the financial instrument is categorized.

Pension benefit obligation – Fair value of the pension benefit obligation is valued as a level 2 input, and is based on the actuarially-determined accumulated pension benefit obligation.

The Company leases its office and plant facilities from a related party under an operating lease which is renewed annually. Under the terms of this lease agreement, the Company makes monthly rent payments of $30,000 and is responsible for all taxes and assessments on the property, insurance, utilities and repairs and maintenance. Rent expense under this lease totaled $360,000 for 2009 and 2008.

Sales to two of the Company’s major customers accounted for approximately 62% of total sales in 2009 and 66% of total sales in 2008. Outstanding accounts receivable from these customers totaled $619,443 and $1,142,478 at October 31, 2009 and 2008, respectively.

Purchases from two of the Company’s major suppliers accounted for approximately 78% of total purchases in 2009. Purchases from one of the Company’s major suppliers accounted for approximately 66% of total purchases in 2008. Amounts due to these suppliers included in accounts payable totaled $307,299 and $694,040 at October 31, 2009 and 2008, respectively.

All hourly production employees are covered by a collective bargaining agreement that expired during June, 2009 and is currently being renegotiated. Management expects to reach a new agreement during 2010.

T & W FORGE, INC.

NOTES TO FINANCIAL STATEMENTS, Continued

for the years ended October 31, 2009 and 2008

The Company maintains its cash in bank deposit accounts that, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. Management of the Company believes it is not exposed to any significant credit risk on its cash.

In the normal course of business, the Company is involved in routine legal matters that management intends to aggressively defend. Management believes the likelihood of any material adverse outcome to be remote.