American Axle & Manufacturing Announces Record Profit-Sharing Payouts
10 February 2000American 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 firstname.lastname@example.org Or visit the AAM website at http://www.aam.com .