AAM sees continued sales growth through business diversification
November 26, 2017
American Axle & Manufacturing Holdings Inc., Detroit, Michigan, USA, has reported its financial results for the third quarter 2017 and updated its full-year 2017 financial outlook. The company stated that Q3 sales had reached $1.72 billion compared with $1.01 billion in the same quarter in 2016 – an increase of 70%.
AAM’s Q3 2017 results, and a sales increase to $4.53 billion in the first 9 months of 2017 (2016: $3.00 billion), reflect the impact of the acquisition of Metaldyne Performance Group Inc. (MPG) that was completed on April 6, 2017, for $3.3 billion.
MPG, based in Southfield, Michigan, is one of the leading global manufacturers of powder forged steel and structural PM parts. AAM’s net income in the first nine months of 2017 was $230.8 million.
Both AAM and MPG are heavily involved in the production of driveline and powertrain components for the global automotive sector, including hybrid and electric driveline systems.
