AAM Statement on Company Sale Speculation

Rhea-AI Summary

AAM has addressed recent media speculation regarding a potential sale of the company, clarifying that it is not engaged in such a process. The company remains focused on executing its current stand-alone strategy. AAM continuously monitors market conditions and considers strategic opportunities that align with the best interests of its customers, associates, and shareholders. As a leading global Tier 1 automotive supplier, AAM specializes in driveline and metal forming technologies for various vehicle types.

Positive

• AAM is focused on a stand-alone strategy, ensuring stability.
• The company continuously assesses strategic opportunities.

Negative

• None.

DETROIT, May 22, 2022 /PRNewswire/ -- AAM is aware of the media activity regarding the company that began on Friday, May 20.  While our long-standing policy is to not publicly comment on market rumors and media speculation, we feel it is important to clarify that we are not engaged in a process to sell the company.  We are currently focused on executing our stand-alone strategy.  In the ordinary course, we continuously monitor market conditions and assess industry developments and we regularly consider strategic opportunities that serve the best interests of the company (including our customers and associates) and its shareholders. 

About AAM

As a leading global Tier 1 Automotive and Mobility Supplier, AAM (NYSE: AXL) designs, engineers and manufactures Driveline and Metal Forming technologies to support electric, hybrid and internal combustion vehicles. Headquartered in Detroit with nearly 80 facilities in 17 countries, AAM is bringing the future faster for a safer and more sustainable tomorrow. To learn more, visit aam.com.

Forward Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  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  factors detailed in the reports we file with the SEC, including those described under "Risk Factors" in our most recent 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 communication. 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
David H. Lim                                                                                           
Head of Investor Relations                     
(313) 758-2006                                                                                                      
david.lim@aam.com

Media Contact
Christopher M. Son
Vice President, Marketing & Communications
(313) 758-4814
chris.son@aam.com

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SOURCE American Axle & Manufacturing Holdings, Inc.

FAQ

Is AAM considering a sale of the company as of May 2022?

No, AAM clarified that it is not engaged in a sale process.

What is AAM's current business strategy?

AAM is executing a stand-alone strategy and monitoring market conditions.

What is the core business of AAM?

AAM is a leading global Tier 1 automotive supplier specializing in driveline and metal forming technologies.

Where is AAM headquartered?

AAM is headquartered in Detroit.

What type of vehicles does AAM support with its technologies?

AAM supports electric, hybrid, and internal combustion vehicles.