DETROIT, -- American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today announced that its backlog of new and incremental business launching from 2009 through 2013 has increased to approximately $1.4 billion in future annual sales.
AAM currently expects to launch approximately two-thirds of the $1.4 billion new business backlog in the 2009, 2010 and 2011 calendar years. The balance of the new business backlog will launch in 2012 and 2013.
AAM's new business backlog reflects the company's continued success in expanding its product portfolio, customer base, served markets and global manufacturing footprint.
Almost half of AAM's new business backlog relates to rear-wheel-drive and all-wheel-drive applications for passenger cars and crossover vehicles.
AAM's new business backlog benefits from the company's continued focus on electronics product integration. This is particularly evident in the expansion of AAM's drivetrain product offerings, such as transmission differentials and transfer cases.
Approximately 85% of AAM's new business backlog has been sourced to AAM's non-U.S. facilities. This will accelerate the expansion of AAM's high quality, cost-competitive and operationally flexible global manufacturing footprint in Brazil, China, India, Mexico, Poland and Thailand.
The growth in AAM's new business backlog also reflects AAM's successful efforts to diversify its customer base. Recent awards in AAM's new business backlog include:
-- Nissan Motor Co., Ltd. has selected AAM to produce rear axles and
driveshafts for a 2010 model-year light vehicle program.These
components will be manufactured at AAM's Guanajuato, Mexico
manufacturing facility for the North American market.
-- Renault S.A. has chosen AAM to manufacture rear dual-wheel axles for a
2011 model-year light commercial vehicle program.These components
will be manufactured at AAM's Changshu, China manufacturing facility
for consumption in the emerging markets of Brazil, Russia, India, and
China.
-- Audi AG has awarded AAM new and incremental transmission differential
business.These components will be manufactured at AAM's Olawa, Poland
manufacturing facility.
-- Brilliance China Automotive Holdings, Ltd. has selected AAM to produce
independent rear drive assemblies (IRDA) for a 2010 model-year
crossover utility vehicle program.These components will be
manufactured at AAM's Changshu, China manufacturing facility for the
domestic market in China.
-- Chery Automobile Co., Ltd. has chosen AAM to supply driveshafts for a
2009 model year crossover vehicle.As previously announced, this
vehicle will also feature AAM's rear-drive modules (RDM).These
components will also be produced at our Changshu, China manufacturing
facility for the domestic market in China.
"Record high fuel prices, rapidly shifting consumer preferences and fast growth in the emerging markets are quickly changing the product development requirements of the global automotive industry," said AAM's Co-Founder, Chairman of the Board & CEO, Richard E. Dauch. "AAM's success in growing its new business backlog demonstrates that our long-term strategic goals of expanding and diversifying AAM's product portfolio, customer base, served markets and global manufacturing footprint are on track and in balance with the needs of our customers."
AAM values its new business backlog based on production volume estimates and program design direction provided by its customers. The sales value of these awards will depend on product volumes, program launch timing and foreign currency exchange.
AAM is a world leader in the manufacture, engineering, design and validation of driveline and drivetrain systems and related components and modules, chassis systems and metal-formed products for trucks, sport utility vehicles, passenger cars and crossover utility vehicles. In addition to locations in the United States (Michigan, New York, Ohio and Indiana), AAM also has offices or facilities in Brazil, China, Germany, India, Japan, Luxembourg, Mexico, Poland, South Korea, Thailand and the United Kingdom.
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