Type Public Founded 1994 Revenue 2.5 billion USD (2011) | Industry Automotive industry Area served Worldwide | |
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Traded as NYSE: AXL
S&P 600 Component Founders Richard E. "Dick" Dauch and James W. McLernon Stock price AXL (NYSE) US$ 20.05 +0.38 (+1.93%)27 Feb, 4:02 PM GMT-5 - Disclaimer Headquarters Detroit, Michigan, United States CEO David C Dauch (1 Sep 2012–) Subsidiaries AccuGear, Oxford Forge, Inc Profiles | ||
American axle manufacturing metal formed products
American Axle & Manufacturing, Inc. (AAM), headquartered in Detroit, Michigan, is a manufacturer of automobile driveline and drivetrain components and systems.
Contents
News update american axle manufacturing forms joint venture e aam with saab
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
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. 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 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.