American Axle & Manufacturing Announces New Business Backlog of $1.25 Billion for 2013 - 2015
04 Dicembre 2012 - 10:30PM
For Immediate Release
AAM sales expected
to grow faster than the industry growth rate through 2015
Detroit, Michigan, December 4, 2012 -- 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 2013 through 2015 is estimated
at $1.25 billion in future annual sales.
AAM's $1.25 billion new and incremental business
backlog for 2013 - 2015 reflects an approximately 4% increase when
compared to the previous three-year backlog for 2012-2014.
The growth represents successful efforts to diversify the
business by increasing AAM's exposure to global growth markets,
advancing and innovating AAM's product portfolio, and growing AAM's
customer base.
Highlights of AAM's $1.25 billion new and
incremental business backlog for 2013 - 2015 include the
following:
-
Industry-first order for
AAM's EcoTrac(TM) all-wheel-drive (AWD): AAM's
EcoTrac(TM) AWD system will be featured on a major passenger car
and crossover vehicle program beginning in 2013. This system
enables a vehicle manufacturer to offer a fuel-efficient,
environment-friendly option to provide the safety, ride and
handling performance of an AWD system for passenger cars and
crossover vehicles.
-
Significant progress on
customer diversification initiatives: Over 50% of
AAM's $1.25 billion new and incremental business backlog for 2013 -
2015 is for customers other than GM. This includes new and
expanded orders supporting multiple global premium vehicle
manufacturers including Chrysler, Daimler Truck, Ford, Honda,
Jaguar Land Rover, Mercedes Benz, Nissan, Tata Motors, Volvo
Powertrain and others.
-
Continued expansion of
product portfolio: Approximately two-thirds of AAM's
$1.25 billion new and incremental business backlog for 2013 - 2015
is for passenger car, crossover vehicle and commercial vehicle
programs.
-
Growth in global
markets: Approximately 40% of AAM's $1.25 billion
new and incremental business backlog is for programs sourced
outside of North America. These awards support AAM's expansion in
the growing global markets of Brazil, China, India and
Thailand.
"AAM's success in growing the new business backlog
is supporting our ability to grow faster than the industry with an
estimated compound annual growth rate of greater than 10% from 2012
through 2015," said AAM President & Chief Executive Officer
David C. Dauch. "We are pleased that our focused R&D
investment is driving AAM to deliver on our long term strategic
goals of expanding and diversifying our customer base and product
portfolio on a global basis, while meeting the market demands of
fuel efficiency, reduced emissions, safety, ride and handling."
AAM values its new and incremental business
backlog based on production volume estimates and program design
direction provided by its customers. The actual sales value of
these awards will depend on product volumes, program launch timing
and foreign currency exchange. AAM does not include sales of
unconsolidated joint ventures in its new business backlog.
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,
passenger cars, crossover vehicles and commercial vehicles.
In addition to locations in the United States (Michigan,
Ohio, Pennsylvania and Indiana), AAM also has offices or facilities
in Brazil, China, Germany, India, Japan, Luxembourg, Mexico,
Poland, Scotland, South Korea, Sweden and Thailand.
Cautionary Statement
Concerning Forward-Looking Statements
In this release, we make statements concerning our expectations,
beliefs, plans,
objectives, goals, strategies, and future events or performance. Such statements
are "forward-looking"
statements within
the meaning of the
Private Securities
Litigation Reform
Act of 1995 and
relate to trends and events that may affect our
future financial position and operating results. The terms such as "will,"
"may," "could," "would," "plan," "believe," "expect,"
"anticipate," "intend," "project," and similar words of expressions, as
well as statements in future tense, are intended to identify forward-looking statements.
Forward-looking statements should not be read as
a guarantee of
future performance or
results, and will not necessarily be accurate
indications of the
times at, or by,
which such performance or results will be achieved. Forward-looking statements
are based on
information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and may differ materially from those expressed in or suggested by the forward-looking statements. Important
factors that
could cause
such differences include, but are not limited to: global economic conditions, including
the impact of the current sovereign debt crisis in the Euro-zone; reduced
purchases of our
products by General Motors Company (GM), Chrysler
Group LLC (Chrysler)
or other customers; reduced demand for our customers'
products (particularly light trucks and SUVs produced by GM and
Chrysler); liabilities arising from warranty claims, product recall, product liability and legal proceedings to which we are or may become a party; our ability to
realize the
expected revenues
from our new business
backlog; our ability or our customers'
and suppliers'
ability to successfully launch new product programs on a timely basis; our ability to
achieve the
level of cost
reductions required
to sustain global cost competitiveness; our ability to
attract new customers
and programs
for new products; supply shortages or price increases in raw materials, utilities
or other operating
supplies for us or our
customers as a result of natural disasters or otherwise; our ability to
respond to changes
in technology, increased competition or pricing
pressures; price volatility in, or reduced availability
of, fuel; our ability to develop and produce new products that reflect market demand; lower-than-anticipated market
acceptance of new or
existing products; our ability
to maintain
satisfactory labor
relations and
avoid work stoppages; our
suppliers', our customers' and
their suppliers'
ability to maintain satisfactory
labor relations
and avoid work stoppages; risks inherent in our international operations (including
adverse changes
in political
stability, taxes and other law
changes, potential disruptions of production
and supply and currency rate fluctuations);
availability of financing for working capital, capital
expenditures, R&D
or other general
corporate purposes,
including our ability to comply with financial covenants; our
customers' and suppliers' availability of
financing for working capital,
capital expenditures,
R&D or other
general corporate purposes; adverse changes
in laws, government
regulations or market
conditions affecting our products or our customers' products (such as
the Corporate Average Fuel Economy ("CAFE") regulations); changes
in liabilities
arising from
pension and
other postretirement
benefit obligations; our
ability to consummate and integrate acquisitions
and joint ventures; risks of noncompliance with environmental laws and regulations or risks of environmental issues
that could result in unforeseen costs at our facilities; our
ability to attract and retain key associates; other unanticipated
events and conditions that may hinder our ability to compete. It is not possible to foresee or
identify all such
factors and we
make no commitment to update any forward-looking statement
or to disclose
any facts, events or circumstances
after the date hereof that may affect
the accuracy
of any forward-
looking statement.
# # #
For more
information...
Christopher M. Son
Director, Investor Relations,
Corporate Communications & Marketing
(313) 758-4814
chris.son@aam.com
David Tworek
Manager, Communications
(313) 758-4883
david.tworek@aam.com
Or visit the AAM website at www.aam.com.
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: American Axle & Manufacturing Holdings, Inc via Thomson
Reuters ONE
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