AAM Secures Contracts Valued at More Than $10 Billion for Next-Generation Full-Size Truck Axle Programs With Multiple Customers

Rhea-AI Summary

On February 11, 2022, American Axle & Manufacturing (AXL) announced securing multiple next-generation full-size truck axle programs with global OEM customers. This includes previously awarded contracts from early 2021. The contracts are projected to generate over $10 billion in lifetime revenues from mid-decade to beyond 2030. CEO David C. Dauch emphasized the company's commitment to supporting its traditional axle business and its transition towards electrification.

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• Secured multiple next-generation axle programs with global OEM customers.
• Expected lifetime revenues exceeding $10 billion from these contracts.

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• None.

DETROIT, Feb. 11, 2022 /PRNewswire/ -- American Axle & Manufacturing (AAM), (NYSE: AXL) announced it has secured multiple next-generation full-size truck front and rear axle programs with global OEM customers (including a previously announced award in early 2021). These awards are expected to generate more than $10 billion of lifetime revenues from mid-decade to beyond 2030.

"We continue to secure AAM's traditional core axle business by winning multiple next-generation light vehicle programs," said David C. Dauch, AAM Chairman and Chief Executive Officer. "We look forward to providing our latest and most efficient driveline systems as a strategic supplier to these vehicle programs. These wins will continue to support and fund our pivot to electrification."

Forward-Looking Statements

This release contains forward-looking statements and other information relating to matters that are not historical facts. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include uncertainty around the duration and effects of the COVID-19 pandemic, and the factors detailed from time to time in the reports we file with the SEC, including those described under "Risk Factors" in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this report. We expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

For more information:
Investor Contact	Media Contact
David H. Lim	Christopher M. Son
Head of Investor Relations	Vice President, Marketing & Communications
(313) 758-2006	(313) 758-4814
david.lim@aam.com	chris.son@aam.com

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SOURCE American Axle & Manufacturing Holdings, Inc.

FAQ

What are the recent contracts secured by American Axle (AXL)?

American Axle has secured multiple next-generation full-size truck axle programs valued at over $10 billion.

How much revenue is expected from the new axle programs announced by AXL?

The new axle programs are projected to generate more than $10 billion in lifetime revenues.

What is the significance of the new contracts for American Axle's future?

These contracts will support American Axle's core business and assist in its transition to electrification.

When do the revenue projections for AXL's new contracts extend to?

The revenue projections extend from mid-decade to beyond 2030.