American Axle Reaches Deal With UAW

The tentative agreement, which must be approved by union members, would end a costly strike.
Author:
Publish date:

American Axle Manufacturing (AXL) - Get Report has struck a tentative agreement with the United Autoworkers that would end a costly strike.

The union

announced the deal

late Friday. Members must still approve it.

The union didn't disclose details of the agreement but said it will present them to members at a meeting on Sunday.

The auto components and systems maker is a key supplier to automaker

General Motors

(GM) - Get Report

. Last month, American Axle blamed the strike, which began in February, for its

first-quarter loss.

Shares of American Axle lost 2 cents Friday to close at $22.55. Shares of GM finished the session down 55 cents at $20.68.

This article was written by a staff member of TheStreet.com.