DETROIT, Oct. 18 /PRNewswire-FirstCall/ -- American Axle & Manufacturing
Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today announced that
the Minerva, Ohio facility of its Colfor Manufacturing, Inc. subsidiary is
nearing completion.
The more than $60 million investment in building expansion, machinery and
equipment will create 175 new jobs at Colfor Manufacturing facilities in the
next 24 months.
At today's ribbon-cutting ceremony for the expansion, AAM Co-Founder,
Chairman & CEO Richard E. Dauch said, "Colfor Manufacturing was one of the
first companies AAM evaluated and purchased after becoming a public company in
1999. We purchased the company because we believed in the workforce and their
ability to add value and compete in the global automotive marketplace. That
decision has been rewarded by a workforce that understands and has adapted to
the rapidly changing, highly competitive global automotive industry."
According to Thomas J. Szymanski, Colfor Manufacturing's President & COO,
"The investment by AAM, the flexibility of our UAW represented workforce, and
the assistance from both the State of Ohio and the City of Minerva, have given
all of us at Colfor a great opportunity to compete for a bright and secure
future."
When completed, the Minerva facility will incorporate more than 100 new
pieces of equipment designed to provide Colfor Manufacturing with state-of-
the-art machining operations. As a result, Minerva will transition from a
lower volume and simple production process, to a high-volume manufacturing
facility capable of routinely meeting the quality, precision and complexity of
design, heat treating and machining requirements for today's automotive
industry.
AAM is a world leader in the manufacture, engineering, design and
validation of driveline systems and related components and modules, chassis
systems and forged products for light trucks, sport utility vehicles and
passenger cars. In addition to its locations in the United States (in
Michigan, New York and Ohio), AAM also has offices or facilities in Brazil,
China, England, Germany, India, Japan, Mexico, Scotland and South Korea.
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...
Carrie L.P. Gray Christopher M. Son
Director, Corporate Relations Director, Investor Relations
(313) 758-4880 (313) 758-4814
grayc@aam.com chris.son@aam.com
Or visit the AAM website at http://www.aam.com
SOURCE American Axle & Manufacturing Holdings, Inc.
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Related links:
http://www.aam.com
Company News On-Call:
http://www.prnewswire.com/comp/033813.html
CONTACT:
Carrie L.P. Gray, Director, Corporate
Relations, +1-313-758-4880, grayc@aam.com , or Christopher M.
Son, Director, Investor Relations, +1-313-758-4814,
chris.son@aam.com , both of American Axle & Manufacturing
Holdings, Inc.
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