American Axle & Manufacturing Receives Notice Regarding NYSE Listing
04 Marzo 2009 - 10:30PM
PR Newswire (US)
DETROIT, March 4 /PRNewswire-FirstCall/ -- American Axle &
Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the
New York Stock Exchange (NYSE), announced that AAM has been
notified by the NYSE that it has fallen below NYSE's continued
listing standard related to total market capitalization and
stockholders' equity. The NYSE requires that the average market
capitalization of a listed company be not less than $75 million
over a consecutive 30 trading-day period and that stockholders'
equity be not less than $75 million. AAM intends to submit a plan
to NYSE, within the required 45 day period, to demonstrate its
ability to achieve compliance with the continued listing standards
within the allotted 18 month cure period. AAM's business
operations, Securities and Exchange Commission reporting
requirements, credit agreements and other debt obligations are not
otherwise affected by this notification. 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 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 additional
information: Renee B. Rogers Manager, Corporate Communications and
Media Relations (313) 758-4882 Christopher M. Son Director,
Investor Relations and Corporate Communications (313) 758-4814 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 Christopher M. Son, Director, Investor
Relations and Corporate Communications, +1-313-758-4814, , both of
American Axle & Manufacturing Holdings, Inc. Web Site:
http://www.aam.com/
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