AAM Acquires Full Ownership of e-AAM Driveline Systems AB
(Thomson Reuters ONE) -
Detroit, Michigan, February 29, 2012-- American Axle & Manufacturing (AAM) today
announced that it has acquired full ownership of e-AAM Driveline Systems AB (e-
AAM) in Trollhättan, Sweden. e-AAM, previously a joint venture between AAM and
Saab Automobile AB (Saab), was created to provide customers around the globe
with innovative solutions for electric driveline systems including electric all-
wheel-drive (eAWD), plug-in hybrids, and full electric vehicles.
Under the purchase agreement, Saab's bankruptcy estate has sold its minority
stake in the joint venture to AAM. e-AAM is now a wholly-owned subsidiary of
AAM. This transaction gives AAM full control of the operation that will continue
the full scope of engineering, developing and commercializing the full range of
electric driveline technology systems for passenger cars and crossover vehicles.
"AAM remains totally committed to e-AAM", said AAM President & Chief Operating
Officer, David C. Dauch. "As a wholly owned entity, we now have greater
flexibility to support e-AAM's customers without limitations. We are pleased
with the progress we are making in this new and emerging driveline technology,
and expect to play a leading role in this important new product segment."
About AAM
AAM is a world leader in the manufacture, engineering, design and validation of
driveline and drivetrain systems and related components and modules, chassis
systems and metal-formed products for trucks, sport utility vehicles, passenger
cars and crossover utility vehicles. In addition to locations in the United
States (Indiana, Michigan, Ohio, and Pennsylvania), AAM also has offices or
facilities in Brazil, China, Germany, India, Japan, Luxembourg, Mexico, Poland,
South Korea, Sweden, Thailand and the United Kingdom.
Certain statements contained in this press release which are not historical
facts contain forward-looking information with respect to the Company's plans,
projections or future performance, the occurrence of which involves risk and
uncertainties that could cause the company's actual results or plans to differ
materially from those expected by the company which include risk factors
described in the Company's filings with the Securities and Exchange Commission.
For more information...
Christopher M. Son
Director, Investor Relations,
Corporate Communications and Marketing
(313) 758-4814
chris.son(at)aam.com
David Tworek
Manager, Communications
313) 758-4883
david.tworek(at)aam.com
Or visit the AAM website at www.aam.com.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: American Axle & Manufacturing Holdings, Inc via Thomson Reuters ONE
[HUG#1590106]
Unternehmensinformation / Kurzprofil:
Datum: 29.02.2012 - 22:16 Uhr
Sprache: Deutsch
News-ID 120392
Anzahl Zeichen: 3439
contact information:
Town:
Detroit, MI
Kategorie:
Business News
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"AAM Acquires Full Ownership of e-AAM Driveline Systems AB"
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