CEO Richard Dauch

American Axle & Manufacturing Holdings Inc. reported a second-quarter profit on Friday after a big loss a year ago on charges. Its revenue more than doubled on a resurgence of the auto industry.Driving the revenue gain was a recovery of the SUV and pickup truck market, which makes up a large portion of the company's parts sales.Company CEO Richard Dauch said that American Axle expects the better results to continue into the second half of the year, with sales growth of 40 percent to 45...Read Full Story

With global auto production still in a slump and two of the U.S. automakers in bankruptcy protection, it wasn't a big surprise that the second quarter was another tough one for auto suppliers.But at the same time, the losses almost seemed trite considering that at least two major suppliers have filed for bankruptcy protection in recent months, blaming the continued industry downturn.Richard E. Dauch, American Axle & Manufacturing Holdings Inc.'s co-founder, chairman and CEO, told analysts...Read Full Story

DETROIT–American Axle & Manufacturing Holdings Inc. dealt the United Auto Workers a second blow Thursday by announcing the closure of its New York gear-making plant after union rank-and-file members failed to ratify a new contract late last month. The Cheektowaga plant, employing about 100 hourly and salaried workers, will be shut sometime after Feb. 25, American Axle spokesman Christopher Son said. The announcement comes a month after the company said it will close its Detroit plant after...Read Full Story

DETROIT (Reuters) - American Axle & Manufacturing Holdings Inc <AXL.N> reported a bigger-than-expected quarterly loss on Wednesday due to steep production cuts by automakers and said it remained uncertain whether it could complete a debt restructuring outside of bankruptcy.Shares of the auto parts supplier were up more than 9 percent in morning trading after falling as much as 13 percent.American Axle, which relies on GM for about three-quarters of its sales, said it was working with key...Read Full Story

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.According to a filing with the Securities and Exchange Commission, American Axle will be required to maintain a daily average of $85 million in liquidity until June 10 under the agreement with its lenders. The deal also limits the Detroit-based company's...Read Full Story