American Axle plans headquarters in Detroit

American Axle & Manufacturing Holdings Inc. will spend as much as $40 million to build a seven-story headquarters in Detroit, near its manufacturing and administrative campus.

The 202,000-square-foot building will house about 500 employees. It is scheduled to open

in late 2003.

The company, led by CEO Richard E. Dauch, was formed in 1994 via the purchase of General Motors' axle making operations.

American Axle posted worldwide automotive sales of $3.07 billion last year. GM remains American Axle's largest customer.

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