FX.co ★ American Axle To Sell AAM India Manufacturing To Bharat Forge For $65 Mln

American Axle & Manufacturing Holdings Inc. (AXL) has announced a definitive agreement to sell its AAM India Manufacturing Corp. Pvt., Ltd., which encompasses its commercial vehicle axle business and associated assets in India, to Bharat Forge Ltd. for $65 million. This global Tier 1 supplier to the automotive and mobility sectors clarified that the sale would include its manufacturing facilities located in Pune and Chennai, along with the Pune Engineering and Development Center. However, the components manufacturing facility in Chakan and the Pune Business Office are not part of this transaction. The deal is anticipated to be finalized by the fourth quarter of 2024.