American Axle

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

American Axle & Manufacturing, Inc.
Public
Traded asNYSE: AXL
S&P 600 Component
ISINUS0240611030 
IndustryAutomotive industry
PredecessorAlbion Motors 
Founded1994
FoundersRichard E. "Dick" Dauch and James W. McLernon
Headquarters
Detroit, Michigan
,
USA
Area served
Worldwide
Productspassenger car, light truck, and commercial vehicle segments
Revenue $ 6.27 billion (FY 2017) [1]
$ 223.4 million (FY 2011)[2]
$ 337.1 million (FY 2017)[1]
Total assets $ 2.3 billion (FY 2011)[2]
Total equity $ -419.6 million (FY 2011)[2]
Number of employees
25,000[3] (2017)
SubsidiariesAlbion Automotive, United Kingdom
Websiteaam.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

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.[4] The strike cost General Motors $2.6 billion as the automaker lost the production of its Chevrolet Malibu sedan and other vehicles.[5]

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 [6] 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.

US Competitors
gollark: Yep.
gollark: Or for caves blink them around.
gollark: Another cheapish way is to toss mobs up into the sky and then let them experience fall damage.
gollark: I have a cool spell which summons water, explodes in it, then summons a conjured block to remove the water.
gollark: Mostly explosions.

References
  1. "American Axle & Manufacturing 2017 Annual Report, Form 10-K, Filing Date Jan 9, 2019" (PDF). secdatabase.com. Retrieved Jan 9, 2019.
  2. "American Axle & Manufacturing 2011 Annual Report, Form 10-K, Filing Date Feb 9, 2012" (PDF). secdatabase.com. Retrieved July 5, 2012.
  3. "American Axle & Manufacturing". Fortune. Retrieved 2018-12-30.
  4. "Joe's Union Review: American Axle strike". Joe's Union Review. 2008-03-02. Retrieved 2019-10-09.
  5. "GM To Slash Expenses, Raise Cash To Move Forward" Archived 2008-07-19 at the Wayback Machine. Auto Trends. Retrieved 18 July 2008.
  6. "American Axle sells Detroit manufacturing complex to Industrial Realty Group", The Detroit News. Burden Melissa. Retrieved 24 February 2014.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.