Category Archives: Auto Suppliers

Superior Industries Shipments Hit Record, But Profits Plunge On Acquisition

SOUTHFIELD — Superior Industries International Inc. (NYSE:SUP), the global manufacturer of aluminum wheels, reported a loss of $7.3 million or 41 cents a share in the quarter ended June 25, compared to net income of $13.2 million or 52 cents a share a year earlier.

Revenue was $240.6 million, up from $182.7 million a year earlier.

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Lear Posts Record Second Quarter

SOUTHFIELD — Lear Corp. (NYSE: LEA), the Southfield-based supplier of automotive seating and electrical systems, reported record sales and earnings for the second quarter 2017.

Net income for the quarter was $311.9 million or $4.49 a share, up from $282.4 million or $3.82 a share a year earlier. Revenue was $5.12 billion, up from $4.72 billion a year earlier.

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Visteon Net Rises

VAN BUREN TWP. — Auto electronics supplier Visteon Corp. (NYSE: VC) reported net income of $45 million or $1.41 a share in the second quarter, up from $26 million or 76 cents a share a year earlier. Revenue was $774 million, virtually flat compared to last year’s $773 million. Continue reading Visteon Net Rises

Gentherm Profits Dip On Auto Decline, Currency Losses

NORTHVILLE — Gentherm Inc. (Nasdaq: THRM), the thermal management technology developer, posted net income of $8.5 million or 23 cents a share in the second quarter, down from $18.4 million or 50 cents a share a year earlier.

Revenue was $243.4 million, up 5 percent from $232.7 million a year earlier.

For the first six months of the year, net income was $33.9 million or 92 cents a share, up from $30.3 million or 83 cents a share in the first half of 2016. Revenue for the period was $492.6 million, up from $448.4 million in the first half of 2016.

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Aerospace firm, auto-safety company expand in Oakland County

LANSING — Grants to two companies with plans to create a total of 784 full-time jobs and invest $357 million in Oakland County have been approved by the Michigan Strategic Fund board.

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Nexteer, MSU To Offer Master’s of Electrical Engineering in Midland

SAGINAW – Nexteer Automotive, the Chinese-owned auto supplier, has signed a memorandum of understanding with Michigan State University to offer a master of science degree in electrical engineering program in Midland, beginning in September. The partnership is aimed at increasing the availability of advanced graduate-level engineering education in the Great Lakes Bay Region.

“In support of our local communities, we seek qualified talent in close proximity to our global locations,” said Robin Milavec, senior executive director of current product engineering at Nexteer. “There’s a continuing need in the Great Lakes Bay Region, including at our Global Technical Center in Saginaw, for individuals fluent in advanced electrical engineering. We believe the availability of a local graduate program backed by MSU will be a great draw for the region.”

The electrical engineering program is open to all qualified applicants and will focus on building graduate students’ competencies in the growing field of automotive electronics, particularly in the areas of vehicle safety, advanced driver assistance systems and autonomous driving technologies. The program and its curriculum were developed in conjunction with MSU’s Department of Electrical and Computer Engineering within the College of Engineering.

With two degree tracks available, the plan replicates MSU’s standard electrical and computer engineering M.S. program requiring 30 credit hours for completion. MSU will offer five graduate courses per year to meet these requirements. As a partner, Nexteer will provide program content recommendations and encourage eligible employees to take part in the educational program.

“We are pleased to partner with Nexteer Automotive in expanding higher education in the Great Lakes Bay Region,” said Leo Kempel, dean of the College of Engineering, Michigan State University. “The company’s commitment to the region has aided us in crafting a program that will further STEM education and meet the area’s intellectual needs. It also affords the opportunity for joint research and innovation as part of the economic development of the region.”

The program, which will be based at an MSU academic center in Midland, will commence with the fall 2017 semester. For more information about the program, including curriculum, application, admission requirements and tuition, visit the MSU Department of Electrical and Computer Engineering website at ece.msu.edu/midlandms.

Nexteer has a global work force of more than 13,000 that serves more than 50 customers in every region of the world. The company has 25 manufacturing plants, five regional engineering centers and 11 customer service centers in North and South America, Europe and Asia. Nexteer Automotive’s customers include BMW, Fiat Chrysler, Ford, GM, PSA Group, Toyota and Volkswagen, as well as automakers in India and China. More at www.nexteer.com.

The Michigan State University College of Engineering has nine academic programs serving 6,400 students, including more than 5,600 undergraduates and 700 graduate students. The college’s research focus is on innovation in automotive, composite materials, energy, health care technologies, pavement preservation, and security. The college is the home of two new academic departments — the Department of Biomedical Engineering and the Department of Computational Mathematics, Science and Engineering and a partner in MSU’s new Institute for Quantitative Health Science and Engineering. A new $60 million Bio Engineering Facility opened in 2016 for interdisciplinary basic and applied research at the interface of life and physical sciences, engineering, information science, and math. More at www.egr.msu.edu.

Roush Opens New Engineering Center in Troy

LIVONIA — The automotive firm Roush recently opened its first Oakland County technical center bringing expanded engineering design and development services dedicated to hybrid and electric vehicles, electric propulsion and battery systems, autonomous vehicles, advanced software development and data analytics.

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Stoneridge Sales, Profits Rise

NOVI — Stoneridge Inc. (NYSE: SRI), the manufacturer of automotive electrical and electronic components, reported higher revenue and net income for the first quarter of the year.

Net income was $9.2 million or 32 cents a share, up 27.8 percent from $7.2 million or 26 cents a share a year earlier. Revenue was $204.3 million, up 25.6 percent from $162.6 million a year earlier.

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Gentherm Sales, Profits Rise

NORTHVILLE — Gentherm Inc. (Nasdaq: THRM), the developer of thermal management technologies, reported rising sales and net income in the first quarter.

Revenue was $249.3 million, up from $215.7 million a year earlier. Net income was $25.4 million or 69 cents a share, up from $11.9 million or 33 cents a share a year earlier.

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