DETROIT, Oct. 30 /PRNewswire-FirstCall/ -- American Axle &
Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE,
today announced that it has formed a joint venture with Sona Koyo Steering
Systems Limited (Sona Koyo) of India. The new company, AAM Sona Axle
Private Limited (AAM Sona Axle), will manufacture and sell light truck,
passenger car and SUV axle assemblies for the India market.
The Corporate headquarters of AAM Sona Axle will be located in Pune,
India, and a new greenfield manufacturing facility will be constructed in
north India. The facility is expected to launch in 2008 with the production
of light vehicle axles for Tata Motors.
"AAM Sona Axle gives AAM a manufacturing and operations presence in
India with the ability to provide current and future customers with
driveline systems with the highest quality, technology and delivery that
are the hallmark of AAM and Sona Koyo," said AAM Co-Founder, Chairman & CEO
Richard E. Dauch. "This joint venture is further evidence of AAM's
commitment to successfully deliver on our long-term strategic goals of
expanding our product portfolio, served markets, customer base and global
manufacturing footprint."
Sona Koyo supplies axle assemblies for Suzuki Maruti in India. In
addition, Sona Koyo is India's largest manufacturer of steering systems
with a market share exceeding 45 percent. Sona Koyo supplies gears, columns
and rack & pinion steering (RPS) assemblies to a majority of India's
passenger car and utility vehicle manufacturers. More information on the
company is available on the website http://www.sonagroup.com.
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 light trucks, sport
utility vehicles and passenger cars. In addition to locations in the United
States (Indiana, Michigan, New York and Ohio), AAM also has offices or
facilities in Brazil, China, Germany, India, Japan, Luxembourg, Mexico,
Poland, South Korea 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...
Renee B. Rogers Jamie M. Little
Manager, Corporate Communications 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.
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Related links:
http://www.aam.com
http://www.sonagroup.com
http://www.prnewswire.com/comp/033813.html /
CONTACT:
Renee B. Rogers, Manager, Corporate
Communications & 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 of
American Axle & Manufacturing Holdings, Inc.
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