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American Axle & Manufacturing Holdings Inc. posted its first quarterly profit in two years on Friday, an encouraging sign after deep and painful cost cuts at the struggling auto parts supplier. Its shares jumped more than 9 percent.
Auto parts supplier American Axle & Manufacturing Holdings Inc. says it has granted General Motors Co. the right to buy up to 7 percent of its stock after accepting millions of dollars in aid from the automaker.
American Axle & Manufacturing Holdings Inc. said Thursday that it reached a deal to restructure its debt and received millions in financial help from General Motors, likely preventing a bankruptcy protection filing at struggling auto supplier.
American Axle is working with longtime legal and financial advisers to consider restructuring options, but the company and a law firm representing it are stopping short of saying they are considering bankruptcy.
A judge on Wednesday ordered a key supplier of American Axle & Manufacturing Holdings Inc. to resume steel deliveries, easing concerns that the auto parts maker would cease production and disrupt automakers' supply base.
Auto parts supplier American Axle & Manufacturing Holdings Inc. is seeking a court order to get one of its steel suppliers to resume deliveries, saying that cutting off supplies threatens the entire auto supply chain.
Auto parts supplier American Axle & Manufacturing Holdings Inc. on Friday posted a wider first-quarter loss as production cuts at automakers sent its sales tumbling.
American Axle & Manufacturing Inc. plans to shutter the largest plant at its Detroit manufacturing complex and move production to Mexico, a union official said Tuesday.
American Axle and Manufacturing Holdings Inc. said Wednesday it will cut more than half of its U.S. hourly work force, or 2,000 jobs, through early retirement and buyout offers, plant closures and layoffs.
General Motors Corp.'s stock dropped almost 5 percent Friday after the company reported that strikes at some of its own plants and parts supplier American Axle will cost the automaker about $2 billion before taxes in the second quarter.
Striking workers at American Axle and Manufacturing Holdings Inc. began voting Monday on a new contract with the auto parts maker that would cut their pay by about one-third.
American Axle and Manufacturing Holdings Inc. said Friday it expects production to resume next week after workers overwhelmingly approved a new contract with the auto parts supplier that contains steep pay cuts and other concessions.
A bitter, 10-week strike at auto parts supplier American Axle and Manufacturing Holdings Inc. could end soon now that General Motors Corp. has agreed to kick in up to $200 million to help settle the dispute, industry analysts said.
Bowing to grim reality, General Motors Corp. followed Ford's lead and cut its U.S. sales forecast Wednesday after a tough first quarter that saw a $3.3 billion loss.
Striking United Auto Workers union members are considering a new contract offer from American Axle and Manufacturing Holdings Inc. as bargaining continued through the weekend aimed at ending a seven-week strike over company demands for deep pay cuts.
American Axle and Manufacturing Holdings Inc., idled for more than a month by a United Auto Workers strike, advertised in Sunday newspapers for potential replacement workers.
The two sides are talking by phone instead of face-to-face, a bad sign in the two-week-old dispute between American Axle and the United Auto Workers, two labor experts said Tuesday.
General Motors Corp. may close two additional factories next week as the impact of a strike at a key parts supplier widens.
American Axle and Manufacturing Holdings Inc. said early Tuesday its workers went on strike after the auto parts supplier failed to reach a new contract agreement with the United Auto Workers union.
I have always encouraged caution to companies that sleep with an elephant. If it rolls over you're dead. I know how crushing that is because I have done it and been killed. Too bad I was never hired as a consultant to General Motors.
AMERICAN AXLE STRIKE SETTLEMENT-Workers say deal is tough to swallowUnion workers at American Axle & Manufacturing Inc., who were on strike for more than 11 weeks, reacted with anger and reluctant acceptance Sunday after hearing the details of the tentative deal the two sides reached late Friday. This week, about 3,650 UAW members have either a …
Despite UAW wage-cut offers, no agreement yet in American Axle strikeTalks ended Saturday between the United Auto Workers and American Axle without an agreement as the strike by 3,600 workers in Michigan and western New York nears completion of its second month, making it one of the longest auto strikes in decades.
$10 million for American Axle CEO: Richard Dauch and the aristocratic principle in AmericaThis week, as more than 3,600 workers marked the end of their first month on strike against the wage-cutting demands of auto parts supplier American Axle & Manufacturing, it was revealed that the company's CEO, Richard Dauch, was paid $10.2 million in salary, bonuses and other …
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