US: American Axle reports fall in profits
American Axle & Manufacturing (AAM) has reported net income of US$59m for the full year 2005, in line with forecasts announced last month. This is down from $159.5m a year earlier, and is attributed to lower sales to its major customer, GM. Net sales fell $3,599.6m in 2004 to $3,387.3m in 2005.
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