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AXL:
Price:
$4.55
Day High:
$4.83
0.22 (-4.61%)
Day Low:
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7/15/2025
RECOMMENDED CASH AND SHARE COMBINATION OF DOWLAIS GROUP PLC WITH AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.
Transaction Update: AAM Stockholders Approve Proposed Combination
DETROIT, July 15, 2025 -- American Axle & Manufacturing Holdings, Inc. (“AAM”), (NYSE: AXL) today announced that at a special meeting (the “Special Meeting”) of its stockholders (“AAM Stockholders”) held in connection with AAM’s recommended offer to acquire the entire issued and to be issued share capital of Dowlais Group plc (“Dowlais”), (the “Combination”), AAM Stockholders approved all proposals related to the Combination as described in AAM’s definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 2, 2025, as amended and supplemented pursuant to Current Reports on Form 8-K filed by AAM with the SEC on June 9, 2025 and July 7, 2025. Dowlais shareholders are expected to vote on the Scheme and Special Resolution at the Court Meeting and General Meeting, respectively, on July 22, 2025.
In addition, as announced on May 16, 2025, AAM intends to seek a secondary listing and admission of shares of its common stock, par value $0.01 per share (collectively, “AAM Shares”), including the new AAM Shares to be issued in connection with the Combination, to trading on the London Stock Exchange. Following the Combination, the combined AAM and Dowlais group will have an expanded and balanced geographic presence across multiple automotive segments supporting ICE, hybrid and electric powertrains and is expected to generate annual revenues of approximately $12 billion on a non-adjusted combined basis.
Antitrust and other regulatory approvals continue to progress, and the deal is anticipated to close in the fourth quarter of 2025, subject to Dowlais shareholder approval and the completion of the other remaining conditions.
“We are very pleased that our stockholders recognized the tremendous value creation opportunity in combining these two outstanding automotive suppliers,” said David C. Dauch, Chairman and Chief Executive Officer of AAM, who will serve as the Chairman and Chief Executive Officer of the combined company. “This milestone brings us one step closer to creating a leading global driveline and metal forming supplier with size and scale to successfully navigate industry shifts and volatility.”
AAM will file a Current Report on Form 8-K with the SEC to report the voting results of all proposals put forth at its Special Meeting.
More information about the proposed Combination can be found on AAM’s investor website at www.aam.com/investors/offer-for-Dowlais-Group-plc.
About AAM
As a leading global Tier 1 Automotive and Mobility Supplier, AAM (NYSE: AXL) designs, engineers and manufactures Driveline and Metal Forming technologies to support electric, hybrid and internal combustion vehicles. Headquartered in Detroit with over 75 facilities in 16 countries, AAM is Bringing the Future Faster for a safer and more sustainable tomorrow. To learn more, visit www.aam.com.
About Dowlais
Dowlais is a portfolio of market-leading, high-technology engineering businesses that advance the world’s transition to sustainable vehicles. Dowlais’ businesses comprise GKN Automotive and GKN Powder Metallurgy with over 70 manufacturing facilities in 19 countries across the world, Dowlais is an automotive technology leader delivering precisely engineered products and solutions that drive transformation in our world. Dowlais has LEI number 213800XM8WOFLY6VPC92. For more information visit www.dowlais.com
Forward-Looking Statements
In this press release, we make statements concerning our expectations, beliefs, plans, objectives, goals, strategies, and future events or performance. Such statements are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 and relate to trends and events that may affect our future financial position and operating results. The terms such as “will,” “may,” “could,” “would,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “project,” “target,” and similar words or expressions, as well as statements in future tense, are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and may differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to: global economic conditions, including the impact of inflation, recession or recessionary concerns, or slower growth in the markets in which we operate; reduced purchases of our products by General Motors Company (GM), Stellantis N.V. (Stellantis), Ford Motor Company (Ford) or other customers; our ability to respond to changes in technology, increased competition or pricing pressures; our ability to develop and produce new products that reflect market demand; lower-than-anticipated market acceptance of new or existing products; our ability to attract new customers and programs for new products; reduced demand for our customers’ products (particularly light trucks and sport utility vehicles (SUVs) produced by GM, Stellantis and Ford); our ability to consummate strategic initiatives and successfully integrate acquisitions and joint ventures; risks inherent in our global operations (including tariffs and the potential consequences thereof to us, our suppliers, and our customers and their suppliers, adverse changes in trade agreements, such as the United States-Mexico-Canada Agreement (USMCA), compliance with customs and trade regulations, immigration policies, political stability or geopolitical conflicts, taxes and other law changes, potential disruptions of production and supply, and currency rate fluctuations); supply shortages and the availability of natural gas or other fuel and utility sources in certain regions, labor shortages, including increased labor costs, or price increases in raw material and/or freight, utilities or other operating supplies for us or our customers as a result of pandemic or epidemic illness, geopolitical conflicts, natural disasters or otherwise; a significant disruption in operations at one or more of our key manufacturing facilities; risks inherent in transitioning our business from internal combustion engine vehicle products to hybrid and electric vehicle products; our ability to realize the expected revenues from our new and incremental business backlog; negative or unexpected tax consequences, including those resulting from tax litigation; risks related to a failure of our information technology systems and networks, including cloud-based applications, and risks associated with current and emerging technology threats and damage from computer viruses, unauthorized access, cyber attacks, including increasingly sophisticated cyber attacks incorporating use of artificial intelligence, and other similar disruptions; our suppliers’, our customers’ and their suppliers’ ability to maintain satisfactory labor relations and avoid or minimize work stoppages; cost or availability of financing for working capital, capital expenditures, research and development (R&D) or other general corporate purposes including acquisitions, as well as our ability to comply with financial covenants; our customers’ and suppliers’ availability of financing for working capital, capital expenditures, R&D or other general corporate purposes; an impairment of our goodwill, other intangible assets, or long-lived assets if our business or market conditions indicate that the carrying values of those assets exceed their fair values; liabilities arising from warranty claims, product recall or field actions, product liability and legal proceedings to which we are or may become a party, or the impact of product recall or field actions on our customers; our ability or our customers’ and suppliers’ ability to successfully launch new product programs on a timely basis; risks of environmental issues, including impacts of climate-related events, that could result in unforeseen issues or costs at our facilities, or risks of noncompliance with environmental laws and regulations, including reputational damage; our ability to maintain satisfactory labor relations and avoid work stoppages; our ability to achieve the level of cost reductions required to sustain global cost competitiveness or our ability to recover certain cost increases from our customers; price volatility in, or reduced availability of, fuel; our ability to protect our intellectual property and successfully defend against assertions made against us; adverse changes in laws, government regulations or market conditions affecting our products or our customers’ products; our ability or our customers’ and suppliers’ ability to comply with regulatory requirements and the potential costs of such compliance; changes in liabilities arising from pension and other postretirement benefit obligations; our ability to attract and retain qualified personnel in key positions and functions; and other unanticipated events and conditions that may hinder our ability to compete. These risks and uncertainties related to AAM include factors detailed in the reports AAM files with the SEC, including those described under “Risk Factors” in its most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. It is not possible to foresee or identify all such factors and we make no commitment to update any forward-looking statement or to disclose any facts, events or circumstances after the date hereof that may affect the accuracy of any forward-looking statement.
No Offer or Solicitation
This press release is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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Investor Contact:
David H. Lim
Head of Investor Relations
+1 313 758 2006
david.lim@aam.com
Media Contact:
Christopher M. Son
Vice President, Marketing & Communications
+ 1 313 758 4814
chris.son@aam.com
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6/18/2025
AAM Recognizes Top Suppliers with Awards
DETROIT, June 18, 2025 -- American Axle & Manufacturing Holdings, Inc. (AAM), (NYSE: AXL), a leading global Tier 1 automotive supplier of driveline and metal forming technologies, named top suppliers during their Supplier Day event. The annual event recognizes key suppliers with Supplier of the Year Awards and Supplier Excellence Awards across delivery, quality, launch performance, innovation and sustainability.
“It’s an honor every year to recognize our top performing supplier partners who go above and beyond for AAM and contribute to the automotive industry,” said David C. Dauch, AAM Chairman and Chief Executive Officer. “They are an integral part of our business and demonstrate excellence in their operations and service. Congratulations to our Supplier of the Year and Supplier Excellence Award winners.”
This year, three suppliers received AAM’s top awards for overall performance.
AAM’s first 2025 Supplier of the Year Award for Direct Material was presented to Baoding Dongli Machinery Co., Ltd., a partner for over 20 years that provides 88 iron-casting, steel-forging and aluminum parts to multiple AAM Manufacturing Facilities in Europe and China. Among other achievements, this supplier demonstrated a collaborative approach to its relationship with AAM by establishing local warehouses near AAM’s European facilities.
AAM’s second 2025 Supplier of the Year Award for Direct Material was presented to Steel Dynamics Inc. – Engineered Bar Products Division. The company supplies multiple AAM Metal Forming facilities with SAE-grade engineered special bar quality (SBQ) products and operates a bar finishing facility that offers key downstream processes including turning, polishing, straightening and other critical finishing operations. This supplier demonstrated the ability to provide nearly 75,000 tons of steel to our facilities with outstanding quality performance.
AAM’s third 2025 Supplier of the Year Award for Indirect Material was presented to Okuma America Corporation, a global leader in computer numeric control (CNC) machine tools, controls and automation systems. Okuma has consistently delivered high-quality machining centers that have played a key role in advancing AAM’s manufacturing capabilities.
Additionally, 13 other suppliers were honored with AAM Supplier Excellence Awards for their demonstrated success in delivery, quality, launch performance, innovation and sustainability. The awardees are:
Delivery:
- Mecanica Garcia Industrial
- Warren Industries
- Webco Industries, Inc.
Quality:
- Bocar
- Guangdong Hongteo Technology Co., Ltd.
- Tubos De Acero De Mexico S.A. (Tenaris)
Launch Performance:
- Johnson Electric Otomotiv Ürünleri Limited Şirketi
- Wayne Manufacturing
- Zouping Tiansheng Metal Technology Co., Ltd.
Innovation:
- Ansys
- Apera AI
- Neural Concept
Sustainability:
- CEVA Logistics
AAM has recognized exceptional suppliers each year since its founding in 1994. AAM Associates from global procurement, engineering, supplier quality, manufacturing and supply chain management selected this year's award winners based on several criteria including delivery performance, product quality, launch execution, sustainability commitment and technology leadership.
About AAM
As a leading global Tier 1 Automotive and Mobility Supplier, AAM (NYSE: AXL) designs, engineers and manufactures Driveline and Metal Forming technologies to support electric, hybrid and internal combustion vehicles. Headquartered in Detroit with over 75 facilities in 16 countries, AAM is Bringing the Future Faster for a safer and more sustainable tomorrow. To learn more, visit www.aam.com.
About Baoding Dongli Machinery Co., Ltd.
Baoding Dongli Machinery Co., Ltd., was established in September 1998, with two production sites in Baoding Dongli and Shandong Anuoda, as well as two sales companies, Dongli Germany and Dongli USA. The company has developed four product series engine damper parts, chassis suspension shock absorber assemblies, transmission parts and other precision parts, with 800+ products in total. To learn more, visit www.bddlm.com.
About Steel Dynamics
Steel Dynamics is a leading industrial metals solutions company, with facilities located throughout the United States, and in Mexico. The company operates using a circular manufacturing model, producing lower-carbon-emission, quality products with recycled scrap as the primary input. Steel Dynamics is one of the largest domestic steel producers and metal recyclers in North America, combined with a meaningful downstream steel fabrication platform. The company is also currently investing in aluminum operations to further diversify its product offerings, with plans to supply aluminum flat rolled products with high recycled content to the countercyclical sustainable beverage can industry, in addition to the automotive and industrial sectors. Steel Dynamics is committed to operating with the highest integrity and to being the safest, most efficient producer of high-quality, broadly diversified, value-added metal products. To learn more, visit http://www.steeldynamics.com.
About Okuma Corporation
Okuma America Corporation is the U.S.-based sales and service affiliate of Okuma Corporation, a world leader in CNC (computer numeric control) machine tools, controls and automation systems. The company was founded in 1898 in Nagoya, Japan, and is the industry’s only single-source provider of CNC machines, controls, drives, motors, encoders, spindles and automation systems, all manufactured by Okuma. The company designs its own CNC controls to integrate seamlessly with each machine tool’s functionality. In 2014 Okuma launched the Okuma App Store, the industry’s only centralized online marketplace for machine tool apps and related content. Along with its extensive distribution network (largest in the Americas), and Partners in Technology network of enhanced manufacturing technologies, Okuma is committed to helping users gain competitive advantages through the open possibilities of machine tools today and into the future. To learn more, visit www.okuma.com.
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Media Contact:
Christopher M. Son
Vice President, Marketing & Communications - AAM
(313) 758-4814
chris.son@aam.com
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- Experienced and proven management team
- Strong core business focused on high demand products, complimented by global profitable growth opportunities
- Flexible and variable cost structure with a proven track record of effectively adjusting our business to current market demand
- Superior profit margin and strong free cash flow yield driven by AAM's operating system and the benefit of vertical integration
- Highly innovative and scalable electrification propulsion technologies designed to accelerate growth and serve multiple regions, customers and vehicle segments
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Forward-Looking Statement
On this website and elsewhere in attached materials, we make statements concerning our expectations, beliefs, plans, objectives, goals, strategies, and future events or performance. Such statements are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 and relate to trends and events that may affect our future financial position and operating results. The terms such as “will,” “may,” “could,” “would,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “project,” "target," and similar words or expressions, as well as statements in future tense, are intended to identify forward-looking statements.
Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and may differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to:
- reduced purchases of our products by General Motors Company (GM), FCA US LLC (FCA), or other customers;
- reduced demand for our customers' products (particularly light trucks and sport utility vehicles (SUVs) produced by GM and FCA);
- our ability to develop and produce new products that reflect market demand;
- lower-than-anticipated market acceptance of new or existing products;
- our ability to respond to changes in technology, increased competition or pricing pressures;
- our ability to attract new customers and programs for new products;
- our ability to consummate and integrate acquisitions and joint ventures;
- risks inherent in our international operations (including adverse changes in trade agreements, tariffs, immigration policies, political stability, taxes and other law changes, potential disruptions of production and supply, and currency rate fluctuations, including those resulting from the recent United States presidential election and the United Kingdom's vote to exit the European Union);
- negative or unexpected tax consequences;
- liabilities arising from warranty claims, product recall or field actions, product liability and legal proceedings to which we are or may become a party, or the impact of product recall or field actions on our customers;
- our ability to achieve the level of cost reductions required to sustain global cost competitiveness;
- supply shortages or price increases in raw materials, utilities or other operating supplies for us or our customers as a result of natural disasters or otherwise;
- our ability or our customers' and suppliers' ability to successfully launch new product programs on a timely basis;
- our ability to realize the expected revenues from our new and incremental business backlog;
- risks related to a failure of our information technology systems and networks, and risks associated with current and emerging technology threats and damage from computer viruses, unauthorized access, cyber attack and other similar disruptions;
- global economic conditions;
- our ability to maintain satisfactory labor relations and avoid work stoppages;
- our suppliers', our customers' and their suppliers' ability to maintain satisfactory labor relations and avoid work stoppages;
- price volatility in, or reduced availability of, fuel;
- our ability to protect our intellectual property and successfully defend against assertions made against us;
- our ability to attract and retain key associates;
- availability of financing for working capital, capital expenditures, research and development (R&D) or other general corporate purposes including acquisitions, as well as our ability to comply with financial covenants;
- our customers' and suppliers' availability of financing for working capital, capital expenditures, R&D or other general corporate purposes;
- changes in liabilities arising from pension and other postretirement benefit obligations;
- risks of noncompliance with environmental laws and regulations or risks of environmental issues that could result in unforeseen costs at our facilities;
- adverse changes in laws, government regulations or market conditions affecting our products or our customers' products (such as the Corporate Average Fuel Economy (CAFE) regulations);
- our ability or our customers' and suppliers' ability to comply with the Dodd-Frank Act and other regulatory requirements and the potential costs of such compliance; and
- other unanticipated events and conditions that may hinder our ability to compete.
It is not possible to foresee or identify all such factors and we make no commitment to update any forward-looking statement or to disclose any facts, events or circumstances after the date hereof that may affect the accuracy of any forward-looking statement.