American Axle & Manufacturing Forms India Joint Venture Company, AAM Sona Axle Private Limited
October 30 2007 - 12:00PM
PR Newswire (US)
DETROIT, Oct. 30 /PRNewswire-FirstCall/ -- American Axle &
Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the
NYSE, today announced that it has formed a joint venture with Sona
Koyo Steering Systems Limited (Sona Koyo) of India. The new
company, AAM Sona Axle Private Limited (AAM Sona Axle), will
manufacture and sell light truck, passenger car and SUV axle
assemblies for the India market. The Corporate headquarters of AAM
Sona Axle will be located in Pune, India, and a new greenfield
manufacturing facility will be constructed in north India. The
facility is expected to launch in 2008 with the production of light
vehicle axles for Tata Motors. "AAM Sona Axle gives AAM a
manufacturing and operations presence in India with the ability to
provide current and future customers with driveline systems with
the highest quality, technology and delivery that are the hallmark
of AAM and Sona Koyo," said AAM Co-Founder, Chairman & CEO
Richard E. Dauch. "This joint venture is further evidence of AAM's
commitment to successfully deliver on our long-term strategic goals
of expanding our product portfolio, served markets, customer base
and global manufacturing footprint." Sona Koyo supplies axle
assemblies for Suzuki Maruti in India. In addition, Sona Koyo is
India's largest manufacturer of steering systems with a market
share exceeding 45 percent. Sona Koyo supplies gears, columns and
rack & pinion steering (RPS) assemblies to a majority of
India's passenger car and utility vehicle manufacturers. More
information on the company is available on the website
http://www.sonagroup.com/. AAM is a world leader in the
manufacture, engineering, design and validation of driveline and
drivetrain systems and related components and modules, chassis
systems and metal-formed products for light trucks, sport utility
vehicles and passenger cars. In addition to locations in the United
States (Indiana, Michigan, New York and Ohio), AAM also has offices
or facilities in Brazil, China, Germany, India, Japan, Luxembourg,
Mexico, Poland, South Korea and the United Kingdom. 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... Renee B. Rogers Jamie M. Little Manager,
Corporate Communications Director, Investor Relations & Media
Relations (313) 758-4831 (313) 758-4882 Or visit the AAM website at
http://www.aam.com/ DATASOURCE: American Axle & Manufacturing
Holdings, Inc. CONTACT: Renee B. Rogers, Manager, Corporate
Communications & Media Relations, +1-313-758-4882, , or Jamie
M. Little, Director, Investor Relations, +1-313-758-4831, , both of
American Axle & Manufacturing Holdings, Inc. Web site:
http://www.aam.com/ http://www.sonagroup.com/ Company News On-Call:
http://www.prnewswire.com/comp/033813.html
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