DETROIT, May 28 /PRNewswire-FirstCall/ -- American Axle & Manufacturing
Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today announced
that its backlog of new and incremental business launching from 2009
through 2013 has increased to approximately $1.4 billion in future annual
sales.
AAM currently expects to launch approximately two-thirds of the $1.4
billion new business backlog in the 2009, 2010 and 2011 calendar years. The
balance of the new business backlog will launch in 2012 and 2013.
AAM's new business backlog reflects the company's continued success in
expanding its product portfolio, customer base, served markets and global
manufacturing footprint.
Almost half of AAM's new business backlog relates to rear-wheel-drive
and all-wheel-drive applications for passenger cars and crossover vehicles.
AAM's new business backlog benefits from the company's continued focus
on electronics product integration. This is particularly evident in the
expansion of AAM's drivetrain product offerings, such as transmission
differentials and transfer cases.
Approximately 85% of AAM's new business backlog has been sourced to
AAM's non-U.S. facilities. This will accelerate the expansion of AAM's high
quality, cost-competitive and operationally flexible global manufacturing
footprint in Brazil, China, India, Mexico, Poland and Thailand.
The growth in AAM's new business backlog also reflects AAM's successful
efforts to diversify its customer base. Recent awards in AAM's new business
backlog include:
-- Nissan Motor Co., Ltd. has selected AAM to produce rear axles and
driveshafts for a 2010 model-year light vehicle program. These
components will be manufactured at AAM's Guanajuato, Mexico
manufacturing facility for the North American market.
-- Renault S.A. has chosen AAM to manufacture rear dual-wheel axles for a
2011 model-year light commercial vehicle program. These components
will be manufactured at AAM's Changshu, China manufacturing facility
for consumption in the emerging markets of Brazil, Russia, India, and
China.
-- Audi AG has awarded AAM new and incremental transmission differential
business. These components will be manufactured at AAM's Olawa, Poland
manufacturing facility.
-- Brilliance China Automotive Holdings, Ltd. has selected AAM to produce
independent rear drive assemblies (IRDA) for a 2010 model-year
crossover utility vehicle program. These components will be
manufactured at AAM's Changshu, China manufacturing facility for the
domestic market in China.
-- Chery Automobile Co., Ltd. has chosen AAM to supply driveshafts for a
2009 model year crossover vehicle. As previously announced, this
vehicle will also feature AAM's rear-drive modules (RDM). These
components will also be produced at our Changshu, China manufacturing
facility for the domestic market in China.
"Record high fuel prices, rapidly shifting consumer preferences and
fast growth in the emerging markets are quickly changing the product
development requirements of the global automotive industry," said AAM's
Co-Founder, Chairman of the Board & CEO, Richard E. Dauch. "AAM's success
in growing its new business backlog demonstrates that our long-term
strategic goals of expanding and diversifying AAM's product portfolio,
customer base, served markets and global manufacturing footprint are on
track and in balance with the needs of our customers."
AAM values its new business backlog based on production volume
estimates and program design direction provided by its customers. The sales
value of these awards will depend on product volumes, program launch timing
and foreign currency exchange.
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 (Michigan, New York, Ohio and
Indiana), AAM also has offices or facilities in Brazil, China, Germany,
India, Japan, Luxembourg, Mexico, Poland, South Korea, Thailand and the
United Kingdom.
Certain statements contained in this press release are "forward-looking
statements" and relate to the Company's plans, projections, strategies or
future performance. Such statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995 and are
based on our current expectations, are inherently uncertain, are subject to
risks and should be viewed with caution. Actual results and experience may
differ materially from the forward-looking statements as a result of many
factors, including but not limited to: adverse changes in the economic
conditions or political stability of our principal markets (particularly
North America, Europe and South America); reduced demand of our customers'
products or volume reductions, particularly for light trucks and SUVs
produced by GM and Chrysler LLC's heavy-duty Dodge Ram full-size pickup
trucks, or the Dodge Ram program; work stoppages at GM or Chrysler LLC or a
key supplier to GM or Chrysler LLC; our ability to achieve the level of
cost reductions required to sustain global cost competitiveness; our
ability to consummate and integrate acquisitions; supply shortages or price
increases in raw materials, utilities or other operating supplies; our
ability or our customers' and suppliers' ability to successfully launch new
product programs on a timely basis; our ability to realize the expected
revenues from our new and incremental business backlog; our customers' and
suppliers' ability to maintain satisfactory labor relations and avoid work
stoppages; our ability to attract new customers and programs for new
products; our ability to develop new products that reflect market demand;
our ability to respond to changes in technology, increased competition or
pricing pressures; adverse changes in laws, government regulations or
market conditions affecting our products or our customers' products
(including the Corporate Average Fuel Economy regulations); adverse changes
in the economic conditions or political stability of our principal markets
(particularly North America, Europe, South America and Asia); liabilities
arising from warranty claims, product liability and legal proceedings to
which we are or may become a party; changes in liabilities arising from
pension and other postretirement benefit obligations; risks of
noncompliance with environmental regulations or risks of environmental
issues that could result in unforeseen costs at our facilities;
availability of financing for working capital, capital expenditures,
research and development or other general corporate purposes, including our
ability to comply with financial covenants; our ability to attract and
retain key associates; and other unanticipated events and conditions that
may hinder our ability to compete.
For more information ...
Renee B. Rogers Jamie M. Little
Manager, Corporate Communications and Director, Investor Relations
Media Relations (313) 758-4831
(313) 758-4882 jamie.little@aam.com
renee.rogers@aam.com
Or visit the AAM website at http://www.aam.com
SOURCE American Axle & Manufacturing Holdings, Inc.
 back to top
Related links:
http://www.aam.com
http://www.prnewswire.com/comp/033813.html /
CONTACT:
Renee B. Rogers, Manager, Corporate
Communications and Media Relations, +1-313-758-4882,
renee.rogers@aam.com, or Jamie M. Little, Director, Investor
Relations, +1-313-758-4831, jamie.little@aam.com, both for
American Axle & Manufacturing Holdings, Inc.
|
