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American Axle says it may violate loan agreements on Fri Mar 13, 2009 4:37 pm
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American Axle & Manufacturing Inc. said in a regulatory filing today that it may violate the terms of its loan agreements as the future of its primary customers are still in question.
General Motors Corp. and Chrysler LLC are American Axle’s largest customers, accounting for a total of 88% of American Axle’s sales in 2008.
The company, which often refers to itself as AAM, describes how the downfall of its major customers would raise questions about whether the company can maintain its operations, or its ability to continue as a going concern.
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General Motors Corp. and Chrysler LLC are American Axle’s largest customers, accounting for a total of 88% of American Axle’s sales in 2008.
The company, which often refers to itself as AAM, describes how the downfall of its major customers would raise questions about whether the company can maintain its operations, or its ability to continue as a going concern.
Read More
