American Axle Takes Ownership Of Joint Venture

American Axle & Manufacturing Holdings Inc. said Friday it assumed full ownership of the AAM Sona Axle Private Limited Joint Venture in Pantnagar, India.

DETROIT (AP) -- American Axle & Manufacturing Holdings Inc. said Friday it assumed full ownership of the AAM Sona Axle Private Limited Joint Venture in Pantnagar, India.

It had previously been a joint venture between AAM and Sona Koyo Ltd. to make and sell light truck, passenger car and SUV axle assemblies for the India market.

The company said the ownership transfer will not affect day-to-day operations at AAM Sona Axle. Financial details were not disclosed.

American Axle shares rose 4 cents to $14.02 in morning trading.
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