NEW YORK (AP) - Struggling automobile parts supplier American Axle & Manufacturing Inc. said Thursday it received a contract from Chery Automobile Co., China's largest automaker, to build rear-wheel drive modules for a 2009 model-year crossover vehicle.
The Detroit-based company, which recently begun restructuring because of sluggish new car sales at key customers such as General Motors, made the announcement during the opening its new manufacturing plant in Changshu.
The contract comes as especially good news for American Axle because Chery ranks as China's biggest domestic automaker and wants to expand into major overseas markets such as Europe and the United States. It already exports to Russia, Southeast Asia, Iran and other Middle Eastern countries.
