The American Axle & Manufacturing Inc. has announced recently that they have reached an agreement with the manufacturer of high quality , General Motors Corporation which encompasses the supply of driveline components, chassis-related forged products, modules, and systems for a future vehicle program.
The Detroit-based automotive supplier has refrained from giving specific details of its agreement with General Motors which it has filed with the Securities and Exchange Commission last June 29, 2007.
Hopefully the new agreement of American Axle with GM will help lessen the impact of the decline in its shares which dropped by 18 cents to $29.60 in aftermarket trading after rising 17 cents to $29.78 in the regular session while GM shares fell dipped 27 cents to close at $36.49.
And still in line with GM's suppliers, BASF South America has been recognized as one of General Motors' best suppliers and was given the GM Supplier Awards. BASF was honored in two categories namely automotive coatings and catalyst. The winners were chosen based on four criteria such as quality, service, technology, and price.
Its not the first time that BASF has obtained the said award as a matter of fact it's the second year in a row that the company has won the Supplier Award. According to Donizete Aparecido Chagas, Automotive Coatings Sales Manager, "This award presented by one of our key customers is a great success for us. It duly recognizes our hard-working team. Every employee at BASF working with the automotive industry contributes to building strong partnerships with automakers every day and has earned this award."
Jeronimo Cruz, Catalyst Unit Director at BASF South America said, "Being the only company honored in two categories and for the second year in a row strengthens BASF's position as a supplier of complete solutions to the automotive industry."
About BASF
BASF Coatings, part of the BASF Group, develops, produces, and markets a high quality range of innovative automotive OEM coatings, automotive refinishes and industrial coatings as well as decorative paints. BASF is renowned in the Coating sector in North America, Europe, South America and the Asia/Pacific region.
Last year BASF Coatings has achieved global sales of about 2.3 billion euros.
About American Axle
American Axle & Manufacturing Inc. or AAM for short is founded in Detroit, Michigan. It is a manufacturer of automotive driveline, drivetrain, electronic integrated power units and chassis systems as well as metal formed products.
It was in the year 1994 when American Axle was formed from five of General Motors plants and from then on continues to serve the automaker with suspensions, differentials, and other similar auto components. Aside from General Motors American Axle also supply parts to other OEM manufacturers around the world.
