American Axle & Manufacturing Announces New Business with Ford
19 April 2000
American Axle & Manufacturing Announces New Business with Ford Motor CompanyDETROIT, April 18 American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) announced that it has been selected as the supplier of rear axles and driveshafts (propshafts) for a future Ford vehicle. This will be AAM's first opportunity to produce axles for Ford Motor Company (NYSE: F). AAM currently produces a variety of components for Ford. "We look forward to expanding the products we produce for Ford Motor Company," said AAM Chairman, CEO & President Richard E. Dauch. "This opportunity further diversifies our axle and driveshaft customer base." "With this new program and other recently acquired new business, AAM will further reduce its concentration of business with our largest customer, General Motors, to 79 percent. For the full year 1999, the GM percentage of our sales was 86 percent." 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 its 13 locations in the United States (in Michigan, New York and Ohio), AAM also 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 Vice President & Treasurer & Communications 313-974-3074 313-974-2945 krauser@aam.com ManardK@aam.com Or visit the AAM website at http://www.aam.com .