Item 7.01 Regulation FD Disclosure
On September 22, AAM's Malvern Manufacturing Facility in Ohio ("Malvern")
experienced a significant industrial fire. All associates were evacuated safely
and without injury. The Company is still assessing the impact of the damage as
well as coordinating plans to work around this disruption and protect continuity
of supply to our customers, including utilizing production capacity and
resources at other AAM facilities.
The Company's insurance policies (less applicable deductibles) are expected to
cover the repair or replacement of the Company's assets that incurred loss or
damage. In addition, the Company's insurance policies are expected to provide
coverage for interruption to its business, including lost profits, and
reimbursement for other expenses and costs that are incurred relating to the
event.
Malvern's major product lines include pinion forgings and axle tubes for
internal AAM consumption as well as other forgings for outside customers, both
automotive and non-automotive. Malvern generated approximately $100 million of
sales in 2019, including intercompany sales.
Forward-Looking Statements
This report contains forward-looking statements and other information relating
to matters that are not historical facts. These forward-looking statements
involve certain risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by these statements. These
risks and uncertainties include the factors detailed from time to time in the
reports we file with the SEC, including those described under "Risk Factors" in
our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. These
forward-looking statements speak only as of the date of this report. We
expressly disclaim any obligation or undertaking to disseminate any updates or
revisions to any forward-looking statement contained herein to reflect any
change in our expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
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