American Axle predicts $850 million in new business over the next few years

Article by Christian A., on November 19, 2010

American Axle & Manufacturing Holdings Inc. predicts that in the few years, it will have $850 million in a new business. The company has certainly come a long way after General Motors gave a financial lifeline to the supplier in 2009.

American Axle said that its backlog of new and incremental business for 2011-13 will be higher by 20% than the previous three-year backlog from 2010 to 2012.

American Axle, which was a GM unit, manufactures driveline and drivetrain systems and other components. It posted a net income of $80.5 million on revenue of $1.70 billion during the first nine months of the year.

For the same period in 2009, it lost $301.7 million on revenue of $1.06 billion. American Axle said that having a diversified portfolio of customers resulted to the higher backlog. During the GM bailout, the automaker made up for about three-fourths of American Axle's revenue.

In a release, the supplier said half of the new backlog stems from non-GM companies. These include orders from Audi AG, Chrysler Group, Daimler AG, Nissan Motor Co., Volkswagen Commercial Vehicles and others.

American Axle also revealed its plan to expand business overseas. Over 60% of the $850 million backlog comes from sources outside North America. [via autonews - sub. required]

If you liked the article, share on:

Comments

Recommended

It’s pretty neat if you possess something of an extraordinary breed like, say, the Pagani Huayra. There are after all just a total of 100 units ever been built by...
by - April 28, 2017
If you’ve ever visited an arcade, chances are you have already seen a Logitech G920 wheel. If that doesn’t ring a bell, it’s the steering wheel that you use when...
by - April 28, 2017
Toyota Motor Corporation disclosed that it will be bringing two of its Mirai fuel cell vehicles to China by October of this year. Tests will then be conducted on these...
by - April 28, 2017
Jaguar fans, as well as auto enthusiasts in general, has a reason to celebrate this week as the brand gave everyone a peek of the new 2018 XF Sportbrake. This...
by - April 28, 2017
BMW has revealed that its i brand has partnered with TED in order to launch a worldwide search of unique ideas under the title “NextVisionaries.” This brand has long been...
by - April 28, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries