DETROIT — The nationwide UAW strike at Normal Motors slashed fourth quarter and full yr gross sales at American Axle & Manufacturing Holdings Inc. by about $186 million and $243 million, respectively.
The driveline and drivetrain techniques provider stated in a assertion Friday that the newest monetary outcomes had been impacted severely by the 40-day strike, stretching from the latter a part of the third quarter into the fourth quarter.
GM, a significant American Axle buyer, accounted for 41 % of the components maker’s 2018 internet gross sales.
American Axle’s fourth-quarter internet gross sales dropped practically 16 % to $1.43 billion, The corporate reported a fourth-quarter internet lack of $454.four million, in contrast with a internet lack of $361.eight million in the identical interval final yr. The fourth-quarter pink ink included a lack of roughly $52 million on account of the strike and pre-tax goodwill impairment of $440 million. The strike had a destructive influence on American Axle’s third-quarter outcomes as effectively.