AAM Continues Pivot Towards Electrification
Acquires Tekfor, a Leading Specialist in Formed and E-Mobility Components
DETROIT, April 11, 2022 /PRNewswire/ -- American Axle & Manufacturing Holdings, Inc. (AAM), (NYSE:AXL) announced today that it has entered into a definitive agreement under which AAM will acquire Tekfor Group for an enterprise value of €125 million.
"This acquisition leverages the core strengths of AAM with significant synergy potential, diversifies our geographic and customer sales mix and increases our electrification product portfolio. In addition, this purchase fits nicely with our recent tactical M&A approach," said AAM's Chairman and Chief Executive Officer, David C. Dauch. "We are excited to expand our metal fo
