American Axle & Manufacturing Announces 2009 - 2013 New Business Backlog of $1.4 Billion
28 Maggio 2008 - 3:00PM
PR Newswire (US)
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 Or visit the AAM
website at http://www.aam.com/ DATASOURCE: American Axle &
Manufacturing Holdings, Inc. CONTACT: Renee B. Rogers, Manager,
Corporate Communications and Media Relations, +1-313-758-4882, , or
Jamie M. Little, Director, Investor Relations, +1-313-758-4831, ,
both for 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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