American Axle & Manufacturing Announces Construction of a New Facility in Poland
DETROIT, May 31, 2006 -- American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today announced that it will establish a manufacturing facility in Poland.
AAM plans to purchase a manufacturing building in Olawa, Poland. The building will be modified and upgraded with new manufacturing systems for AAM's current business requirements in Europe. In addition, AAM has purchased approximately 75 acres of land in an industrial park adjacent to the building for future development. AAM has designed a new 170,000 square-foot, state-of- the-art manufacturing plant for that site, to accommodate future manufacturing requirements.
Operations will begin in late 2006. Kim C. Forshee has been appointed plant manager to oversee the installation, build the organization, and be responsible for the future operation of the facility.
The Eastern Europe location will provide excellent geographic access to all vehicle manufacturers throughout Europe and allow AAM to expand its business in the European marketplace.
"We are extremely pleased to make this announcement of the expansion of AAM's global footprint into Eastern Europe," says AAM Executive Vice President Worldwide Manufacturing Richard F. (Rick) Dauch. "The automotive industry is a global enterprise, and OEMs continue to produce vehicles with a commonality of systems across multiple platforms. Our expansion onto Continental Europe, allows AAM to provide the European marketplace with our high technology, driveline systems, modules, and drive train components at a globally competitive cost."
AAM is a world leader in the manufacture, engineering, design and validation of driveline systems and related components and modules, chassis systems and forged products for light trucks, sport utility vehicles, passenger cars and crossover vehicles. In addition to its locations in the United States (in Michigan, New York and Ohio), AAM also has offices or facilities in Brazil, China, England, Germany, India, Japan, Mexico, Poland, Scotland and South Korea.
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 more information... Carrie L.P. Gray Christopher M. Son Director, Corporate Relations Director, Investor Relations (313) 758-4880 (313) 758-4814 grayc@aam.com chris.son@aam.com Or visit the AAM website at http://www.aam.com/
Company News On-Call: http://www.prnewswire.com/comp/033813.html