Displaying items tagged: Gentex Corp

Despite a decline in light vehicle production globally so far in 2018 and supply issues that affected product deliveries, automotive supplier Gentex Corp. saw higher sales in the first quarter.

For West Michigan manufacturers who are struggling both to find workers and to keep up with order volumes, the recent federal tax reform offers some welcome news.

As Gov. Rick Snyder works to secure a $100 million commitment for his “Marshall Plan for Talent,” he also wants to tear down silos between the education and business communities.

DETROIT — The push to offer autonomous driving, innovate new mobility options and differentiate models with new technology has upended many parts of the automotive industry.

Automotive supplier Gentex Corp. announced long-term exclusive partnership with a Swedish tech firm.

Automotive supplier Gentex Corp. has taken an equity stake in Boulder, Colo.-based tech firm Yonomi as part of a $5 million Series A financial round.

Gentex Corp. founder, Chairman and CEO Fred Bauer has retired effective Dec. 31, ending a more than 40-year career with the automotive supplier, the company announced today in a regulatory filing.

Manufacturers in West Michigan have turned to automation in recent years to get jobs done quicker and cheaper, and their investments in the technology shows no signs of slowing down.

With $562 million in cash on its balance sheet, automotive supplier Gentex Corp. continues to be on the hunt for acquisition opportunities that can help bolster its technology portfolio.

West Michigan manufacturers continue to take a steady yet conservative approach to research and development spending.

Buoyed by continued strength in the automotive market, Gentex Corp. reported double digit sales growth in the first quarter of 2017.

As the automotive industry pursues cutting-edge technological breakthroughs in autonomous driving and vehicle electrification, West Michigan suppliers must ensure they’re not left behind. 

Despite single-digit sales growth, Gentex Corp. reported flat earnings to end 2016.

Despite relatively flat light vehicle production globally, Gentex Corp. generated double-digit sales growth in its third quarter, continuing a trend the company has maintained since the beginning of the year.

The automotive industry has been very good for West Michigan, in spite of the challenges that it has dished up for component suppliers over the last several decades. 

Editor’s note: After more than 13 years of writing the Auto Focus column for MiBiz, Melissa Anderson plans to retire as a columnist, effective immediately, as she winds down her storied career in automotive analysis and research. In the short term, she and her husband plan to travel in the Southern Hemisphere. “I have enjoyed writing the column and it has been a good long run,” Anderson said. Anderson’s business intelligence on the automotive industry will be missed. “Melissa was our ideal business columnist because she was able to talk with a lot of knowledge about trends in the global automotive industry while also providing a lot of local context, examples and data,” said MiBiz Publisher Brian Edwards. MiBiz will continue its search for a new automotive/manufacturing columnist throughout the coming months.

The momentum built by Gentex Corp. in the beginning of the year has continued on into the automotive supplier’s second quarter, driven primarily by sales of the company’s auto-dimming mirrors.

British voters wanted to send a message with the Brexit vote, and it was certainly heard loud and clear by manufacturers in West Michigan. 

Stock prices of West Michigan’s publicly traded companies tumbled on Friday as Wall Street succumbed to the uncertainty caused by the U.K.’s decision to exit the European Union.

Driven by an increase in light vehicle sales, auto supplier Gentex Corp. generated double-digit revenue growth in its first quarter.

At a recent news conference, all of the major automakers pledged to make automatic emergency braking (AEB) standard on every light vehicle within six years. 

Experts in the automotive industry have a simple message for companies figuring out how to navigate a changing vehicle market: Embrace the eventual shift to autonomous cars or you will cease to exist. 

Despite some uncertainty about the health of the global economy, West Michigan product development and engineering firms remain bullish on the manufacturing sector, at least for the short term. 

Most automotive suppliers in West Michigan remain privately-held, meaning that information about their financial health stays tightly under wraps.

The supplier of automotive auto-dimming rearview mirrors and electronics reported cash on hand of approximately $552 million at the close of the 2015 calendar year, an increase of 11 percent from the prior year, according to financial results the company reported today.

Gentex Corp. (NASDAQ: GNTX) has partnered with Tennessee-based TransCore to launch a vehicle-integrated tolling system for drivers using the country’s toll roads.