Dauch (formerly American Axle & Manufacturing) is a global Tier 1 automotive supplier that makes driveline components and metal-formed parts. The company was formed in its current shape through the February 2026 acquisition of Dowlais Group, which housed GKN Automotive and GKN Powder Metallurgy. Dauch's core Driveline segment makes axles, sideshafts, prop shafts, and AWD/4WD systems that transfer power from the engine to the wheels, primarily for light trucks, SUVs, and heavy-duty pickup trucks. Dauch is a primary axle supplier to GM for its full-size RWD trucks and SUVs, and through GKN Automotive is the #1 global sideshaft supplier. Dauch's Metal Forming segment operates the largest automotive forging business in the world, producing engine, transmission, and driveline components — and also supplies the Driveline segment internally, providing vertical integration. Dauch sells directly to OEMs; GM, Ford, and Stellantis together account for roughly 70% of revenue. Dauch wins long-term, platform-specific supply contracts with OEMs and earns revenue over the life of each vehicle program, making production volume on key platforms — particularly GM's full-size truck and SUV programs — the primary revenue driver. Raw material costs are largely passed through to customers by contract. The Dowlais acquisition is expected to generate ~$300M in annual run-rate cost synergies, reduce North America concentration, and diversify the customer base. Near-term capital allocation is focused on debt reduction.