American Axle & Manufacturing Announces Expanded Joint Venture with JAC Group Subsidiary in China
(Thomson Reuters ONE) -
Detroit, Michigan, December 1, 2011 - American Axle & Manufacturing Holdings,
Inc. (AAM), which is traded as AXL on the NYSE, today announced the expansion of
its existing joint venture with Hefei Automobile Axle Co., Ltd. (HAAC), a
subsidiary of the JAC Group (Anhui Jianghuai Automotive Group Co., Ltd.) to
include 100% of HAAC's light commercial axle business.
The existing joint venture, Hefei AAM Automotive Driveline & Chassis System Co.,
Ltd. is currently a key supplier of rear beam axle, rear drive modules (RDM),
power transfer units (PTU) and suspension corners for China independent brand
passenger cars, SUVs and MPVs. By adding the light and medium duty commercial
axle business, this expanded joint venture will supply front and rear beam axles
to several leading Chinese light truck manufacturers, including JAC and BAIC
Foton, making AAM the second largest axle supplier in China 's light commercial
truck segment.
Subject to regulatory approval in China, the expanded joint venture is expected
to commence operations in December 2011.
The expanded joint venture located in the provincial level economic development
zone of Hefei, capital of Anhui Province, covers a 107,226 square meter land
area and 54,000 square meters of manufacturing space.
"The expanded Hefei AAM joint venture broadens AAM's product offerings and
customers in the fast-growing China market. The new products to be manufactured
in this facility, as well as the new customers to be served, support our long-
term strategic goals of expanding and diversifying AAM's product portfolio,
customer base and global manufacturing and sourcing footprint," said AAM Co-
Founder, Chairman & CEO Richard E. Dauch. "AAM is pleased to expand our
partnership with the JAC Group in this important business venture and we look
forward to many years of successful cooperation."
About JAC Group
JAC Automotive is a top Chinese automotive OEM. The main products of JAC
Automotive include light duty commercial vehicles; medium to heavy-duty
commercial vehicles, MPVs, SUVs and passenger cars.
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, New York, 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.
# # #
For more information...
Christopher M. Son
Director, Investor Relations,
Corporate Communications & 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#1567963]
Unternehmensinformation / Kurzprofil:
Datum: 01.12.2011 - 13:00 Uhr
Sprache: Deutsch
News-ID 93115
Anzahl Zeichen: 3941
contact information:
Town:
Detroit, MI
Kategorie:
Business News
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