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Associated Press - June 24, 2009 3:14 PM ET
NEW YORK (AP) - American Axle & Manufacturing Holdings Inc. has won an injunction ordering 1 of its key steel suppliers to resume deliveries, easing concerns of a major disruption in the auto parts supply base.
Oakland County, Mich., Circuit Court Judge Nanci Grant says Republic Engineered Products Inc. must resume the steel shipments that it halted last month. Grant says the steel shipments are crucial for American Axle to continue doing business.
However, Grant also ordered American Axle to follow an accelerated payment plan.
Detroit-based American Axle is a principal supplier to General Motors Corp. Republic ceased shipments of custom steel products to GM last month, seeking volume commitments and pointing to American Axle's weak financial state.
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