American Axle & Manufacturing Announces Profit-Sharing Payouts.
American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today announced that it will be issuing profit-sharing payments averaging $2,193.12 to its eligible U.S. employee associates.
AAM has generated profit-sharing payments to its eligible U.S. workforce each year for the last seven years, since it began operations in 1994.
"We are pleased to share with our associates the positive results of our record earnings for 2000," said Co-Founder, Chairman & CEO Richard E. Dauch. "The dedication of our excellent team of associates to quality and increased productivity provided us with the tools we needed to continue to grow our business."
AAM is a world leader in the manufacture, engineering, validation and design of driveline systems, chassis systems and forged products for trucks, buses, sport utility vehicles and passenger cars. In addition to its 14 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 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:
Investor relations contact Media relations contact
Robert A. Krause Carrie L.P. Gray
Vice President & Treasurer Director, Marketing & Corporate Relations
Or visit the AAM website at www.aam.com
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|Date:||Feb 19, 2001|
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