American Axle To Sell AAM India Manufacturing To Bharat Forge For $65 Mln

(RTTNews) - American Axle & Manufacturing Holdings Inc. (AXL) Thursday announced a definitive agreement to sell its AAM India Manufacturing Corp. Pvt., Ltd., the commercial vehicle axle business and related assets in India to Bharat Forge Ltd. for $65 million.

The global Tier 1 automotive and mobility supplier said the sale includes AAM's manufacturing facilities in Pune and Chennai, and Pune Engineering and Development Center. The transaction excludes components manufacturing facility in Chakan and the Pune Business Office.

The transaction is expected to close in the fourth quarter of 2024.