American Axle Reaches Deal With UAW
May 18th, 2008 | by admin |American Axle ManufacturingAXL has struck a tentative agreement with the United Autoworkers that would end a costly strike.
The union announced the deal late Friday. Members must still approve it.
The union didn’t disclose details of the agreement but said it will present them to members at a meeting CLASS=”TICKERFLAT”>GM. Last month it blamed the strike, which began in February, for its first-quarter loss.Shares of American Axle lost 2 cents Friday to close at $22.55. Shares of GM finished the session down 55 cents at $20.68.
