AAM Says Not Engaged In Process To Sell Company

(RTTNews) - Responding to media report on sale Speculation, American Axle & Manufacturing Holdings Inc. or AAM (AXL) said that it is not engaged in a process to sell the company. It is currently focused on executing its stand-alone strategy.

On Friday, Bloomberg reported that AAM was exploring a potential sale. The company hired an adviser to help with the process.

The Automotive supplier said Sunday that it continuously monitors market conditions and assess industry developments. It regularly considers strategic opportunities that serve the best interests of the company and its shareholders.

AAM designs, engineers and manufactures Driveline and Metal Forming technologies to support electric, hybrid and internal combustion vehicles. AAM is headquartered in Detroit with nearly 80 facilities in 17 countries.