American Axle
 |
|
| Public | |
| Traded as | NYSE: AXL |
| Industry | Automotive industry |
| Founded | 1994 |
| Founders | Richard E. "Dick" Dauch and James W. McLernon |
| Headquarters | Detroit, Michigan, USA |
|
Area served
|
Worldwide |
| Products | passenger car, light truck, and commercial vehicle segments |
| Revenue |  $ 2.5 billion (FY 2011) [1] |
| $ 223.4 million (FY 2011)[1] |
|
| $ 137.1 million (FY 2011)[1] |
|
| Total assets | $ 2.3 billion (FY 2011)[1] |
| Total equity | $ -419.6 million (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.
Contents
History
AAM (official Facebook fan page can be found at https://www.facebook.com/americanaxle) 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
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 production workers' hourly wage from $28 to $18 and cut skilled trade wages $5 per hour.[2] The strike cost General Motors $2.6 billion as the automaker lost the production of its Chevrolet Malibu sedan and other vehicles.[3]
Products
Key products include axles, drive shafts, front axle, universal joints and sealing and thermal-management products.
Axles
Demolition
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 [4] 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
- Meritor
- Dana
References
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- ↑ "Joe's Union Review: American Axle strike", Joe's Union Review. Blogger. Retrieved 23 April 2008.
- ↑ "GM To Slash Expenses, Raise Cash To Move Forward". Auto Trends. Retrieved 18 July 2008.
- ↑ "American Axle sells Detroit manufacturing complex to Industrial Realty Group", The Detroit News. Burden Melissa. Retrieved 24 February 2014.
- Pages with reference errors
- Official website not in Wikidata
- Companies listed on the New York Stock Exchange
- Auto parts suppliers
- Automotive companies of the United States
- Manufacturing companies established in 1994
- Companies based in Detroit, Michigan
- Private equity portfolio companies
- Blackstone Group companies
- 1994 establishments in Michigan
