ABC Money
Home

Buffalo American Axle plant could close


Published :
Wed, 06 Jun 2007 08:44
By : Agencies
Print this Story


AddThis Social Bookmark Button

BUFFALO, N.Y. (AP) - Workers at American Axle's Buffalo plant expect the facility to be idled at the end of this year and closed for good in March 2008.

The plant's future has been the source of much speculation amid restructuring by the Detroit-based auto parts supplier. American Axle officials have said publicly only that the Buffalo factory is one of four around the country that may lose a production line.

However, autoworkers said the company 'unofficially' told them the plant, which employs 650, will close for good when the union contract expires in March.

'They have got one too many plants,' George Jemiolo, chairman of Local 424, United Auto Workers, told The Buffalo News.

A recent notice to Local 424 members said the company has set a time frame for the shutdown.

The notice said the union continues to lobby for new work while preparing to negotiate a severance agreement. It also raised the possibility of a strike when the agreement expires.

'We have nothing new to say,' American Axle spokeswoman Renee Rogers said.

The company offered buyout incentives late last year to about 6,000 employees represented at the Buffalo plant and four others, including smaller plants in suburban Cheektowaga and Tonawanda, as well as Detroit and Three Rivers, Mich.

The company, like other auto suppliers, has been hurt by production cuts at U.S. automakers.

American Axle & Manufacturing Holdings Inc. supplies General Motors with driveline systems and forged products.

XX:SU:APNNTP#SN:v2667#XX:18555.0#HS:route_0_2007-6-6_08:24:13_3_156#DU:aplooked#XN:##XP:fiplan1.afxnews.com

~

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.




Share on


 You Might Like
American Axle signs contract with Chery
Chrysler to build new $700M plant
+
Chrysler to build new plants
Tarrant Apparel terminates Buffalo deal

Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
8742.46
-27.24 ( -0.31 %)
NASDAQ
1617.01
+17.95 ( 1.13 %)
FTSE 100
4505.37
-2.14 ( -0.05 %)

SYMBOL ( 2009-01-08 )
LAST
CHANGE
RECKITT BENCKISER ( 11:35am )
2760.00
+80.00 ( 2.99 %)
IMPERIAL TOBACCO ( 11:35am )
1868.00
+48.00 ( 2.64 %)
ROYAL DUTCH SHELL ( 11:35am )
1841.00
+36.00 ( 2.01 %)
BRITISH AMERICAN TOBACCO ( 11:35am )
1786.00
+32.00 ( 1.84 %)
ROYAL DUTCH SHELL-B ( 11:35am )
1768.00
+32.00 ( 1.86 %)

SYMBOL ( 2009-01-08 )
LAST
CHANGE
EXXON MOBIL CORP ( 4:01pm )
79.09
+0.84 ( 1.08 %)
MICROSOFT ( 4:00pm )
20.12
+0.61 ( 3.10 %)
3M COMPANY ( 4:01pm )
58.58
+0.51 ( 0.88 %)
VERIZON COMMUNICATIONS INC ( 4:00pm )
32.39
+0.49 ( 1.54 %)
ALCOA INC ( 4:00pm )
11.36
+0.47 ( 4.42 %)

SYMBOL ( 2009-01-08 )
LAST
CHANGE
SEARS HOLDINGS CORPORATION ( 4:00pm )
49.98
+9.43 ( 20.96 %)
AMER SCI ENGR ( 4:00pm )
79.65
+7.87 ( 10.77 %)
FIRST SOLAR INC ( 4:00pm )
155.36
+6.86 ( 4.68 %)
COMM BANCORP INC ( 9:30am )
39.48
+4.47 ( 11.32 %)
ISRAMCO INC ( 1:42pm )
31.25
+4.39 ( 14.49 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 ABCmoney.co.uk, All Rights Reserved
*ABCMoney.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.