American Axle

American Axle & Manufacturing, Inc.

American Axle & Manufacturing, Inc.
Company typePublic
IndustryAutomotive industry
Founded1994
FoundersRichard E. "Dick" Dauch and James W. McLernon
Headquarters
Detroit, Michigan
,
U.S.
Area served
Worldwide
Productspassenger car, light truck, and commercial vehicle segments
RevenueIncrease US$ 6.27 billion (FY 2017)
Increase US$ 223.4 million (FY 2011)
Increase US$ 337.1 million (FY 2017)
Total assetsIncrease US$ 2.3 billion (FY 2011)
Total equityIncrease US$ -419.6 million (FY 2011)
Number of employees
25,000 (2017)
SubsidiariesAlbion Automotive, United Kingdom
Websitewww.aam.com

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.

2008 strike

The strike cost General Motors $2.6 billion as the automaker lost the production of its Chevrolet Malibu sedan and other vehicles.

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 to a California-based Industrial Realty Group, IRG LLC who specialize in the use of industrial buildings for other developments such as apartment complexes. 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.

UK subsidiary

Albion Automotive is a Glasgow-based subsidiary.

In 2002, the Court of Appeal ruled in a case brought by staff employed at Albion's Farington site in Lancashire, Albion Automotive Ltd w. Walker and others, that a contractual term entitling employees to an enhanced redundancy payment could be implied into the employees' contracts of employment based on the employer's custom and practice.

US competitors

References

  • Official website
  • Business data for American Axle:

Tags:

American Axle HistoryAmerican Axle 2008 strikeAmerican Axle ProductsAmerican Axle DemolitionAmerican Axle UK subsidiaryAmerican Axle US competitorsAmerican AxleAutomobileDetroit, Michigan

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