American Axle & Manufacturing Announces Contract Ratification with the International UAW
May 23 2008 - 10:00AM
PR Newswire (US)
Webcast and teleconference to discuss contract scheduled for 10:00
a.m. ET Wednesday, May 28, 2008. DETROIT, May 23
/PRNewswire-FirstCall/ -- American Axle & Manufacturing
Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today
announced that the tentative agreements with the International UAW
reached on May 16, 2008, covering approximately 3,650 AAM
associates at five facilities in Michigan and New York, have been
ratified. "AAM is pleased to announce the ratification of a new
collective bargaining agreement with the International UAW," said
AAM Co-Founder, Chairman & CEO Richard E. Dauch. "This new
contract provides AAM and its UAW-represented workforce the
opportunity to transition through a most difficult period of
structural change in the domestic automotive industry. We look
forward to the prompt resumption of normal manufacturing operations
at our original U.S. locations." AAM expects to have its plants
running production during the week of May 26, 2008. AAM will hold a
briefing with institutional investors and security analysts, news
media representatives and other interested parties at 10:00 a.m. ET
on Wednesday, May 28, 2008. AAM's Co-Founder, Chairman & CEO
Richard E. Dauch and Group Vice President-Finance & CFO Michael
K. Simonte will co-host the call. This briefing may be accessed via
conference call or webcast. To participate by phone, please dial:
(877) 278-1452 from the United States (706) 643-3736 from outside
the United States Callers should ask to be connected to the
American Axle & Manufacturing -- UAW contract ratification. AAM
will broadcast the briefing for the general public via a live audio
webcast that may be accessed through AAM's investor web site at
http://investor.aam.com/ . A replay will be available from Noon ET
on May 28, 2008 until 11:00 a.m. ET June 4, 2008. To listen to the
replay please dial: (800) 642-1687 from the United States (706)
645-9291 from outside the United States When prompted, callers
should enter conference reservation number # 48672365. The briefing
audio will also be archived in the investor's section of the AAM
website for one year. 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 trucks, sport utility vehicles, passenger
cars and crossover utility vehicles. In addition to locations in
the United States (Michigan, New York, Ohio and Indiana), AAM also
has offices or facilities in Brazil, China, Germany, India, Japan,
Luxembourg, Mexico, Poland, South Korea, Thailand and the United
Kingdom. Certain statements contained in this press release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
about the potential impact of the new labor agreements with the
International UAW for AAM's original U.S. locations, which are
inherently uncertain and should be viewed with caution. Actual
results and experience may differ materially due to many factors
and risks that are discussed in our most recent annual report on
Form 10-K and quarterly reports on Form 10-Q. It is not possible to
foresee or identify all such factors and we assume no obligation to
update any forward-looking statements or to disclose any subsequent
facts, events or circumstances that may affect their accuracy. 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://investor.aam.com/ Company News On-Call:
http://www.prnewswire.com/comp/033813.html
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