American Axle & Manufacturing Regains Compliance with NYSE Listing Standard
DETROIT, June 4 -- American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the New York Stock Exchange (NYSE), announced that AAM was notified by the NYSE that it has regained compliance with NYSE's continued listing standards.
The NYSE received approval from the Securities and Exchange Commission (SEC) for a pilot program, effective retroactively to May 12, 2009, that lowers the continued listing thresholds related to average market capitalization and stockholders' equity to $50 million. As of May 12, 2009, AAM's 30-day average market capitalization was $83 million. AAM is in compliance with the NYSE continued listing standards.
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.