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American Axle blames strike for 1st-quarter loss

Email|Print|Single Page| Text size – + By Tom Krisher
AP Auto Writer / April 25, 2008

DETROIT—American Axle and Manufacturing Holdings Inc. says it lost $27 million in the first quarter due largely to a strike by the United Auto Workers.

The Detroit-based auto parts maker said Friday the strike has caused an estimated $133 million in lost sales and nearly $46 million in operating income.

About 3,600 UAW members have been striking the company since Feb. 26 in a dispute over the company's demands for lower wages and benefits to match its competitors.

The strike has curtailed production at about 30 General Motors Corp. factories in the U.S., Mexico and Canada.

American Axle earned $15.7 million in the January-March period last year.

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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