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American Axle & Manufacturing Announces Expanded Joint Venture With JAC Group Subsidiary In China

Stocks in this article: AXL

DETROIT, Dec. 1, 2011 /PRNewswire/ -- American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today announced the expansion of its existing joint venture with Hefei Automobile Axle Co., Ltd. (HAAC), a subsidiary of the JAC Group (Anhui Jianghuai Automotive Group Co., Ltd.) to include 100% of HAAC's light commercial axle business.

The existing joint venture, Hefei AAM Automotive Driveline & Chassis System Co., Ltd. is currently a key supplier of rear beam axle, rear drive modules (RDM), power transfer units (PTU) and suspension corners for China independent brand passenger cars, SUVs and MPVs. By adding the light and medium duty commercial axle business, this expanded joint venture will supply front and rear beam axles to several leading Chinese light truck manufacturers, including JAC and BAIC Foton, making AAM the second largest axle supplier in China's light commercial truck segment.

Subject to regulatory approval in China, the expanded joint venture is expected to commence operations in December 2011.

The expanded joint venture located in the provincial level economic development zone of Hefei, capital of Anhui Province, covers a 107,226 square meter land area and 54,000 square meters of manufacturing space.

"The expanded Hefei AAM joint venture broadens AAM's product offerings and customers in the fast-growing China market. The new products to be manufactured in this facility, as well as the new customers to be served, support our long-term strategic goals of expanding and diversifying AAM's product portfolio, customer base and global manufacturing and sourcing footprint," said AAM Co-Founder, Chairman & CEO Richard E. Dauch. "AAM is pleased to expand our partnership with the JAC Group in this important business venture and we look forward to many years of successful cooperation."

About JAC Group

JAC Automotive is a top Chinese automotive OEM. The main products of JAC Automotive include light duty commercial vehicles; medium to heavy-duty commercial vehicles, MPVs, SUVs and passenger cars.

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