American Axle

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American Axle & Manufacturing, Inc.
Type Public
Traded as NYSEAXL
Industry Automotive industry
Founded 1994
Headquarters Detroit, Michigan, USA
Area served Worldwide
Products passenger car, light truck, and commercial vehicle segments
Revenue

Increase $ 2.5 billion (FY 2011)

[1]
Operating income Increase $ 223.4 million (FY 2011)[1]
Net income Increase $ 137.1 million (FY 2011)[1]
Total assets Increase $ 2.3 billion (FY 2011)[1]
Total equity Increase $ -419.6 billion (FY 2011)[1]
Website aam.com

American Axle & Manufacturing, Inc. (AAM), headquartered in Detroit, Michigan, is a manufacturer of automobile driveline and drivetrain components and systems.

History[edit]

AAM was founded in 1994 when a private investor group, led by Richard E. "Dick" Dauch, James W. McLernon, Raymond Park and Morton E. Harris purchased the Final Drive and Forge Business Unit from GM's Saginaw Division. In 1999, AAM went public, and is traded as "AXL" on the New York Stock Exchange (NYSE). AAM has grown to supply various OEM manufacturers around the globe in the passenger car, light truck, and commercial vehicle segments.

AAM's World Headquarters building, erected in 2004, is located on the Detroit/Hamtramck border.

2008 strike[edit]

On February 26, 2008, approximately 4600 AAM employees went on what would be a three month long strike to protest a proposed wage and benefit cut by the company's management. The proposal would reduce workers' hourly wage from $28 to $14 and would also cut benefits.[2] The strike cost General Motors $2.6 billion as the automaker lost the production of its Chevrolet Malibu sedan and other vehicles.[3][4]

Products[edit]

Key products include axles, drive shafts, front axle, universal joints and sealing and thermal-management products.

Axles[edit]

Demolition[edit]

After closing its factories in Detroit in 2012, American Axle and Manufacturing had started a demolition project. In late 2013, much of the old manufacturing facility had been demolished by bulldozers and cranes. Also, in February 2014, it was reported and confirmed that most of the Detroit/Hamtramck manufacturing site had been sold [5] to a California-based Industrial Realty Group, IRG LLC who specialize in the use of industrial buildings for other developments such as apartment complexes and such. In 2014, American Axle continued to own its headquarters and greenbelt property at the site. It planned to build an engineering facility in the sole building left standing from the original manufacturing complex.

US Competitors[edit]

  • Meritor
  • Dana

References[edit]

  1. ^ a b c d e "American Axle & Manufacturing 2011 Annual Report, Form 10-K, Filing Date Feb 9, 2012". secdatabase.com. Retrieved July 5, 2012. 
  2. ^ "Joe's Union Review: American Axle strike", Joe's Union Review. Blogger. Retrieved 23 April 2008.
  3. ^ "American Axle Costs GM $2.6 Billion…Ouch!". The Auto Writer, 18 June 2008. Retrieved 19 June 2008.
  4. ^ "GM To Slash Expenses, Raise Cash To Move Forward". Auto Trends. Retrieved 18 July 2008.
  5. ^ "American Axle sells Detroit manufacturing complex to Industrial Realty Group", The Detroit News. Burden Melissa. Retrieved 24 February 2014.

External links[edit]