Cost Of American Axel Strike

The impact of a nearly three-month-long strike that crippled production was blamed by American Axle & Manufacturing Holdings Inc. for the $644.3 million second-quarter loss it reported today.

Another contributor, the company said, were charges related to the contract agreement that ended the dispute with the United Auto Workers.

The loss, which amounted to $12.49 per share, compared with a profit of $34.6 million, or 66 cents per share, for the same quarter in 2007, the Detroit-based auto parts supplier said.

The results included charges of $575.6 million related to worker buyouts, plant closures and other moves designed to realign the company’s production.

Among the sites being closed were American Axle’s Buffalo plant, which ceased production in December 2007 and was officially closed in June, and the in-process phase-out of the Town of Tonawanda forge plant, which will be closed next year.