American Axle Offloads India Axle Business to Bharat Forge, Deal Valued at $65M
Portfolio Pulse from Benzinga Newsdesk
American Axle & Manufacturing Holdings, Inc. (AAM) is selling its commercial vehicle axle business in India to Bharat Forge Limited for $65 million. The transaction includes manufacturing facilities in Pune and Chennai, but excludes the Chakan facility and Pune Business Office.
October 17, 2024 | 9:02 am
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American Axle is selling its India axle business to Bharat Forge for $65 million. This divestiture could streamline AAM's operations and focus on core assets.
The sale of the India axle business allows AAM to focus on its core operations and potentially improve financial performance by divesting non-core assets. The $65 million deal could positively impact AXL's stock as it streamlines its business.
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