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American Axle & Manufacturing, Inc. (AAM) (NYSE: AXL), headquartered in Detroit, Michigan, is a manufacturer of automobile driveline and drivetrain components and systems.
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| Type | Public |
|---|---|
| Traded as | NYSE: AXL |
| Industry | Automotive industry |
| Founded | 1994 |
| Headquarters | Detroit, Michigan, USA |
| Area served | Worldwide |
| Products | passenger car, light truck, and commercial vehicle segments |
| Revenue |  US$1.52 billion (FY 2009)[1] |
| Operating income |  US$-204 million (FY 2009)[1] |
| Net income | US$-253 million (FY 2009)[1] |
| Total assets | US$1.99 billion (FY 2009)[2] |
| Total equity | US$-560 million (FY 2009)[2] |
| Website | aam.com |
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[edit] History
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.
[edit] 2008 strike
On February 26, 2008, approximately 3600 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.[3] The strike cost General Motors $2.6 billion as the automaker lost the production of its Chevrolet Malibu sedan and other vehicles.[4][5]
[edit] References
- ^ a b c American Axle & Manufacturing Holdings (AXL) annual SEC income statement filing via Wikinvest.
- ^ a b American Axle & Manufacturing Holdings (AXL) annual SEC balance sheet filing via Wikinvest.
- ^ "Joe's Union Review: American Axle strike", Joe's Union Review. Blogger. Retrieved 23 April 2008.
- ^ "American Axle Costs GM $2.6 Billion…Ouch!". The Auto Writer, 18 June 2008. Retrieved 19 June 2008.
- ^ "GM To Slash Expenses, Raise Cash To Move Forward". Auto Trends. Retrieved 18 July 2008.
