American Axle earns $33.6 million in first quarter of 2014

Article by Christian A., on May 4, 2014

American Axle & Manufacturing Holdings Inc. posted $33.6 in income million on $858.8 million in revenues in the first quarter of 2014, compared with $7.3 million in earnings on $755.6 million in revenues in the same period in 2013.

American Axle still has General Motors Co. as its largest customer for, but business with other carmakers surged 53 percent to $287.8 million in the first three months of 2014, as it benefited from new Jeep Cherokee and Ram pickup.

Non-GM customers for the period accounted for over 38 percent of its revenues. The supplier’s content-per-vehicle dollar value hiked 10 percent to $1,655 in the first quarter of 2014 from $1,504 in the same period in 2013.

In February this year, Industrial Realty Group LLC finalized the acquisition of most of American Axle’s 2.5 million-square-foot former manufacturing complex in Detroit.

American Axle appointed in November 2013 Sam Valenti III to its board of directors, filling the seat of former chairman and chief executive Richard E. Dauch, passed away in September. Dauch’s was replaced by son, David, as chairman of the board.

Based in Detroit, Michigan, American Axle & Manufacturing Holdings Inc. is a Tier I supplier to the automotive industry. The company is involved in engineering, designing, manufacturing and validating driveline and drivetrain systems and related components as well as chassis modules for vehicles such as passenger cars, crossover vehicles, sport utility vehicles (SUVs), light trucks and commercial vehicles.

American Axle & Manufacturing Holdings operates in a number of locations in the US including Michigan, Ohio, Indiana and Pennsylvania. The company has offices or facilities Brazil, China, Germany and India as well as Japan, Luxembourg, Mexico and Poland. It also has offices or facilities in Scotland, South Korea and Sweden as well as Thailand.

American Axle & Manufacturing Holdings is the main supplier of driveline components to GM for its full-size rear-wheel drive (RWD) light trucks as well as SUVs built in North America. It is also the supplier of rear axle and four-wheel drive and all-wheel drive (4WD/AWD) axle requirements to GM. In 2013, sales to GM accounted for around 71 percent of American Axle’s consolidated net sales.

Moreover, American Axle & Manufacturing Holdings is the supplier of driveline system products for Chrysler’s heavy-duty Ram full-size pickup trucks and its derivatives and for the 2014 AWD Jeep Cherokee. Sales to Chrysler accounted for around 12 percent of its consolidated net sales in 2013.

The company is also the supplier of driveline systems and other related components to Ford Motor Co., Audi AG, Volkswagen AG, Nissan Motor Co., Ltd., Tata Motors, Mack Trucks Inc., Harley-Davidson Inc., Scania AB and other OEMs.

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