American Axle & Manufacturing Announces Record Profit-Sharing Payouts
10 February 2000
American Axle & Manufacturing Announces Record Profit-Sharing Payouts DETROIT, Feb. 10 -- American Axle & Manufacturing Holdings,
Inc. today announced that it will issue record profit-sharing
payments, averaging $2,692.88, to its eligible U.S. employee associates.
The average profit-sharing amount issued in 1999 was $446.00. American
Axle & Manufacturing has generated profit-sharing payments to its eligible
U.S. workforce each year since it began operations in 1994.
"We are pleased to share with our associates the positive results of our
record 1999 financial performance," said Chairman, CEO & President Richard E.
Dauch. "Our profitable growth in 1999 was due to the contributions of our
excellent team of associates and the continued strong demand for the company's
products."
AAM is a world leader in the manufacture, engineering and design of
driveline systems, chassis systems and forged products for trucks, buses,
sport utility vehicles, and passenger cars. In addition to 13 locations in
the United States (in Michigan, Ohio and New York), AAM has offices and
facilities in Brazil, England, Germany, Japan, Mexico and Scotland.
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
involve risks 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:
Media relations contact: Investor relations contact:
Karen J. Manardo Robert A. Krause
Manager, Media Relations & Communications Vice President & Treasurer
313-974-2945 313-974-3074
ManardK@aam.com krauser@aam.com
Or visit the AAM website at http://www.aam.com .