This paper discusses the performance analysis of the alloy wheel plant (AWP). Till now researchers (1, 5, 9, 14, and 25) took assumption that only one failure at one time but this paper considered two failures at one time. The AWP mainly consists of four subsystems in series (Gdc Machine, Cutting Machine, Heat Treatment Machine and Shot Blasting Machine). The failure and repair rates are implicit to be constant and statistically independent. A transition diagram developed form the interrelationship among the working and failed state. Mathematical modeling of this system is done by applying markov-birthdeath processes. These equations are solved by recursive method and optimized reliability is calculated for failure and repair rates. The obtaining result is helpful to improve the overall performance of alloy wheel plant.