EX-99.1
2
ss160319_ex9901.htm
PRESS RELEASE
Exhibit 99.1
IMMEDIATE RELEASE
AAM CLOSES
SALE OF U.S. IRON CASTING OPERATIONS
DETROIT,
December 16, 2019
- American Axle & Manufacturing Holdings, Inc. (AAM), (NYSE: AXL) announced today that it has closed
the previously announced sale of its U.S. iron casting operations ("Grede") to funds managed by Gamut Capital Management.
AAM received net cash proceeds of approximately $141.2 million from the sale, which are subject to customary post-closing adjustments,
as well as a $60.0 million deferred payment obligation.
Forward-Looking Statements
This report may contain forward-looking
statements including, without limitation, statements with respect to the transaction and the anticipated consequences and benefits
of the transaction and other information relating to matters that are not historical facts. These forward-looking statements involve
certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these
statements. These risks and uncertainties include the factors detailed from time to time in the reports we file with the SEC,
including those described under "Risk Factors" in our Annual Report on Form 10-K and our Quarterly Reports on Form
10-Q. These forward-looking statements speak only as of the date of this report. We expressly disclaim any obligation or undertaking
to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations
with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
About AAM
AAM (NYSE:AXL) delivers POWER
that moves the world. As a leading global tier 1 automotive supplier, AAM designs, engineers and manufactures driveline and metal
forming technologies that are making the next generation of vehicles smarter, lighter, safer and more efficient. Headquartered
in Detroit, AAM has over 20,000 associates operating at nearly 80 facilities in 17 countries to support our customers on global
and regional platforms with a focus on quality, operational excellence and technology leadership. To learn more, visit aam.com.
###
For more information:
Investor Contact:
Jason P.
Parsons
Director,
Investor Relations
(313) 758-2404
jason.parsons@aam.com
Media Contact:
Christopher M. Son
Vice President, Marketing & Communications
(313) 758-4814
chris.son@aam.com
Or visit the AAM website at
www.aam.com
.

EX - 99 . 1 2 ss160319 _ ex9901 . htm PRESS RELEASE Exhibit 99 . 1 IMMEDIATE RELEASE AAM CLOSES SALE OF U . S . IRON CASTING OPERATIONS DETROIT , December 16 , 2019 - American Axle & Manufacturing Holdings , Inc . ( AAM ) , ( NYSE : AXL ) announced today that it has closed the previously announced sale of its U . S . iron casting operations ( " Grede " ) to funds managed by Gamut Capital Management . AAM received net cash proceeds of approximately $ 141.2 million from the sale , which are subject to customary post - closing adjustments , as well as a $ 60.0 million deferred payment obligation . Forward - Looking Statements This report may contain forward - looking statements including , without limitation , statements with respect to the transaction and the anticipated consequences and benefits of the transaction and other information relating to matters that are not historical facts . These forward - looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements . These risks and uncertainties include the factors detailed from time to time in the reports we file with the SEC , including those described under " Risk Factors " in our Annual Report on Form 10 - K and our Quarterly Reports on Form 10 - Q . These forward - looking statements speak only as of the date of this report . We expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward - looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events , conditions or circumstances on which any such statement is based . About AAM AAM ( NYSE : AXL ) delivers POWER that moves the world . As a leading global tier 1 automotive supplier , AAM designs , engineers and manufactures driveline and metal forming technologies that are making the next generation of vehicles smarter , lighter , safer and more efficient . Headquartered in Detroit , AAM has over 20,000 associates operating at nearly 80 facilities in 17 countries to support our customers on global and regional platforms with a focus on quality , operational excellence and technology leadership . To learn more , visit aam.com . # # # For more information : Investor Contact : Jason P . Parsons Director , Investor Relations ( 313 ) 758 - 2404 jason.parsons@aam.com Media Contact : Christopher M. Son Vice President , Marketing & Communications ( 313 ) 758 - 4814 chris.son@aam.com Or visit the AAM website at www.aam.com .