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GM says aid offer clears way for Axle settlement

DETROIT
Thu May 8, 2008 3:44pm EDT

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DETROIT (Reuters) - General Motors Corp GM.N believes that its $200 million aid offer to fund buyouts of workers at American Axle & Manufacturing Holdings (AXL.N) will "bridge the gap" between positions of the supplier and the United Auto workers union in ongoing contract talks.

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"We believe that the offer will help bridge the gap between American Axle and the UAW and the two parties will be able to reach a mutually satisfactory settlement in the near future," GM spokesman Dan Flores said in a prepared statement.

UAW workers have been on strike at American Axle plants in Michigan and New York since late February.
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