American Axle & Manufacturing Announces the Expansion of Its Colfor Manufacturing - Minerva facility
18 Ottobre 2005 - 4:01PM
PR Newswire (US)
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 Or visit the AAM website at http://www.aam.com/
DATASOURCE: American Axle & Manufacturing Holdings, Inc.
CONTACT: Carrie L.P. Gray, Director, Corporate Relations,
+1-313-758-4880, , or Christopher M. Son, Director, Investor
Relations, +1-313-758-4814, , both of American Axle &
Manufacturing Holdings, Inc. Web site: http://www.aam.com/ Company
News On-Call: http://www.prnewswire.com/comp/033813.html
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