American Axle, FormTech swap assets
Dec 08, 2008 | 11:44 AM
| Michael Cowden
Auto parts supplier American Axle & Manufacturing Holdings Inc. (AAM), Detroit, has traded its hub and spindle forging business for FormTech Industries LLC differential gear, hypoid pinion and ring gear forging operations.
The deal also involved AAM paying cash to Royal Oak, Mich.-based FormTech, although the company didn’t specify how much it paid. Inventories, tooling and other assets were also swapped, AAM said.....
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