American Axle aims for profits in 2009

Newswire

DETROIT, Oct 31 (Reuters) - American Axle & Manufacturing Holdings Inc said on Friday its aims to be profitable next year and has the financial resources to execute its restructuring plan. The auto parts maker also said it is focused on raising cash by selling underperforming or non-core assets. American Axle posted a steep quarterly loss earlier on Friday, stung by hefty charges related to hourly and salaried buyouts and plant closures as well as plunging truck production volumes. ...

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