Tag Archives: Novi

3,000+ Jobs Up For Grabs At ESD Job Fair Monday

SOUTHFIELD — Those seeking employment in engineering, science, or technology-based fields will have plenty of opportunity and plenty of choices Monday, May 1 at The Engineering Society of Detroit’s Engineering & Technology Job Fair.

The event runs from 2 to 7 p.m. at the Suburban Collection Showplace, 46100 Grand River Ave. in Novi.

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A123 Systems To Build $40M HQ In Novi

LIVONIA — A123 Systems LLC, a developer and manufacturer of  lithium-ion batteries and systems, announced plans to build a $40 million headquarters complex in Novi.

Located just off I-96 near the Fountain Walk complex, the 32-acre company-owned site will house all corporate functions, an engineering center, new laboratory space and a manufacturing plant.

The new 150,000-square-foot campus will replace A123’s leased space in Livonia and Romulus, and serve as the workplace for more than 400 employees when it is complete. The campus also allows for future expansion to support the further anticipated growth of the global business.

“We are making a commitment to a continued significant presence in Michigan, in proximity to the skilled and experienced talent here,” said Jason Forcier, A123 CEO. “This new complex meets future needs by becoming our epicenter of engineering. It will allow us to grow our engineering workforce and bring testing inside, that has previously been done outside the company. In addition to our corporate staff and our engineering group, we will maintain manufacturing capability for systems assembly to meet the demands of the U.S. marketplace as they continue to evolve.”

The company also announced it will consolidate its U.S. manufacturing operations into a smaller site on the new campus. This will impact approximately 200 manufacturing jobs at the company’s current locations in Livonia and Romulus.

Company officials said they expect growth in payroll of $10 million a year by the end of 2019. The primary driver of this net payroll growth will be the company’s expanding engineering staff and testing capabilities with the new Michigan site.

The expanded engineering center will lead the development of new low voltage products for the growing global markets.

The company expects to begin construction in the third quarter of 2017 and begin to move into the new Michigan complex by the end of 2018.

A123 is a wholly owned subsidiary of China’s Wanxiang Group, which purchased the company after its 2012 bankruptcy filing.

More at http://www.a123systems.com.

Stoneridge Income Jumps On Tax Benefit

NOVI — Stoneridge Inc., the Novi-based manufacturer of electronics for the automotive and other transportation markets, reported net income of $48.4 million or $1.70 a share in the fourth quarter, up from $6.1 million or 22 cents a share in the same quarter of 2015.

Revenue was $172.6 million, up from $154.6 million a year earlier.

For the full year, net income was $77.5 million or $2.74 a share, up from $22.8 million or 82 cents a share a year earlier. Revenue was $696 million, up from $644.8 million a year earlier.

The company also issued an “adjusted earnings” figure removing the benefits of deferred tax assets in 2016. Without that benefit, net income for the fourth quarter was $9.6 million or 34 cents a share for the fourth quarter of 2016, and $40.2 million or $1.42 a share for the full year.

The company said it expected 2017 sales of between $705 milion and $730 million, and earnings before interest, taxes, depreciation and amortization of 10 to 11.5 percent of sales. The earnings per share guidance for 2017 was $1 to $1.15 a share.

For more information, including a replay of a conference call discussing the results, visit http://www.stoneridge.com.

Stoneridge was founded in 1965 in Warren, Ohio as a contract manufacturer for the auto industry. It went public in 1997 and moved its headquarters to Novi in 2016.

State Aid OK’d For $29.8M In Business Expansions

LANSING — Three business expansions that will generate nearly $29.8 million in total investment and create 148 jobs in Michigan have received Michigan Strategic Fund approval for support, the Michigan Economic Development Corp. announced.

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AT&T Brings Faster Network to More Than 100 Michigan Sites

DETROIT — AT&T Inc. has activated upgrades to bring faster speeds to nearly 100 cell sites around the state.

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Tech Firm Red Level Moves To Larger HQ In Novi

NOVI — The IT consulting firm Red Level is moving to a larger headquarters in Novi to accommodate the company’s rapid growth.

The move, taking place in January, will see Red Level moving from 6,500 square feet of leased space on Catherine Industrial Drive to an 18,000-square-foot, company-owned building at 40200 Grand River Avenue.

The company says that following renovation, the new space will boast a contemporary open floor plan, cutting edge collaboration areas and plenty of natural light – a welcoming work environment for the talented technology professionals the company attracts.

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AT&T Upgrades Network

DETROIT — AT&T Inc. says it has added a new 4G LTE cell site in Beverly Hills, and has upgraded dozens more other cell sites raound the state.

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AT&T Fires Up 100% Fiber Network in Southeast Michigan

DETROIT — AT&T Inc. says it has launched its ultra-fast 100-percent fiber optic internet service in parts of southeast Michigan.

The company says it now connects eligible homes, apartments and small business locations in the area to a 1-gigabit-per-second internet connection under the AT&T Fiber brand.

AT&T has made AT&T Fiber available in parts of Wayne, Oakland and Macomb counties by launching in Canton Township, the South Lyon area, Clinton Township and Novi.

The company said it plans to expand access to ultra-fast internet speeds in parts of Detroit, Ann Arbor, Roseville and Ferndale in mid-2017.

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AT&T Expands Expands 4G Network

DETROIT — AT&T Inc. said it is now covering more of several areas of Michigan with improved 4G LTE service.

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State Approves Aid To Business Expansions

LANSING — Funding to assist with projects including the American Center for Mobility – a project to redevelop the old Willow Run industrial site into a center for autonomous and connected vehicles — has been approved by the Michigan Strategic Fund, the Michigan Economic Development Corp.

MSF today approved a $2,999,900 performance-based grant and $100 equity investment in funds transferred from the Michigan Business Development Program to the Willow Run Arsenal of Democracy Landholdings Limited Partnership.

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