US: AAM invests US$100m at Michigan facility
American Axle & Manufacturing Holdings (AAM) has announced that it is investing more than US$100m in its Three Rivers manufacturing facility located in Three Rivers, Michigan.
The investment, which will be completed by December 2013, is expected to create more than 500 new jobs while further diversifying AAM's product portfolio and customer base in North America.
The investment represents the installation of new production lines, multiple assembly stations, paint line modifications, additional shipping and receiving capacity and upgrades to the facility's business offices and lobby. To complete the project, AAM has sourced millions of dollars of business to Michigan-based companies, and in turn, is positively impacting multiple communities in the state.
"Last fall, we announced that AAM would be bringing new business to Michigan," said AAM president and chief executive officer David Dauch. "For the past two years, we have been preparing the Three Rivers Manufacturing Facility for this new business launch. Now, we are in a growth mode and hiring hundreds of associates. This is exciting news for the State of Michigan, the City of Three Rivers and for AAM."
American Axle & Manufacturing's (AAM's) net income in the first quarter of 2013 was US$7.3m, or $0.10 per share compared to net income of $51.2m, or $0.68 per share, in the first quarter of 2012, a fa...
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