Displaying items by tag: Gentex Corp
Gentex Q1 earnings drop while combating inflation, supply chain delays
ZEELAND — Tier 1 automotive supplier Gentex Corp. continued to absorb blows from a volatile market as its first quarter earnings for 2022 sank below last year’s during the same period.
PE-backed Angstrom Technology pursues acquisitions to fill cleanroom market gaps
WALKER — A couple of recent strategic acquisitions should further prepare cleanroom designer and builder Angstrom Technology Ltd. for overseas projects as the company continues a private equity-backed string of acquisitions.
Software firms see spike in demand as pandemic drives more automation
Custom software firms are seeing increased demand for services as the COVID-19 pandemic prompts businesses in virtually all industries to take a hard look at their digital transformation plans.
Employers tap non-English-speaking workers to fill talent pipeline
Businesses in all industry sectors are exhausting potential avenues for talent as they struggle to fill their workforces. Many employers have finally turned their attention to a demographic that Wendy Falb has promoted for decades.
Gentex opens new aerospace opportunities with technology from recent acquisition
ZEELAND — A recent acquisition by Gentex Corp. will allow the Zeeland-based company to expand on its offerings to the aerospace industry.
Supply chain woes trickle down automotive industry, cause significant challenges
When asked how his company is managing the fallout of a microchip shortage that has crippled the automotive industry, Neil Boehm paused.
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Gentex sales hampered by widespread auto industry challenges
ZEELAND — Quarterly sales for automotive supplier Gentex Corp. have rebounded since the early stages of the COVID-19 pandemic, though the company’s growth remains hampered by widespread supply chain disruptions.
Gentex reports strong quarter despite supply chain challenges
ZEELAND — Despite numerous challenges in its operating environment, Zeeland-based automotive supplier Gentex Corp. managed to record its second highest sales quarter in company history.
Despite record fourth quarter, Gentex’s sales fall 9.2 percent in COVID-marred year
ZEELAND — Tier 1 automotive supplier Gentex Corp. capped off 2020 with a blistering final three months of sales.
Diversity-focused VC fund garners widespread attention, even before making initial investment
GRAND RAPIDS — The West Michigan venture capital fund that intends to invest in growing, minority-owned businesses has garnered attention from interested parties who want to replicate the model elsewhere in the U.S.
GR-based VC fund targeting minority-owned companies raises $8.5M in first year
GRAND RAPIDS — The venture capital fund formed a year ago in Grand Rapids to invest in minority-owned businesses has netted $8.5 million in commitments from investors and aims to hit $10 million this year.
Manufacturers deploy recruiting, certification strategies to bolster workforce
Talent gaps and workforce shortages are two issues that have dogged the manufacturing industry for years, pushing Michigan companies and their supporting organizations to develop a more robust talent pipeline in Michigan.
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Gentex announces 5-year donation to Kids’ Food Basket as nonprofit opens new facility
ZEELAND — Gentex Corp. has pledged annual $60,000 donations to Kids’ Food Basket over the next five years to support the nonprofit’s programs, a new Holland facility and a matching fund for additional gifts.
‘Severe change in demand’ shrinks Gentex quarterly earnings
ZEELAND — Citing fallout from the COVID-19 pandemic — particularly how the global crisis has affected worldwide light vehicle production — Gentex Corp. reported rough financial results for the second quarter of 2020.
The Zeeland-based supplier of digital vision, connected car, dimmable glass and fire protection technologies generated net sales of $229.9 million for the quarter, a 51-percent drop from $468.7 million in revenue for the second quarter of 2019.
Automotive suppliers welcome break from most 2020 auto shows
Auto manufacturers, dealers and OEMs will catch a break from the busy auto show circuit this year after the COVID-19 pandemic essentially wiped out the ability to hold crowded events.
Gentex withdraws revenue guidance for 2021 as earnings decline
ZEELAND — Gentex Corp. (NASDAQ: GNTX) reported first-quarter losses related to the ongoing shutdown of most vehicle production and the ensuing economic crisis caused by the coronavirus global pandemic.
Pandemic pushes more corporations to hold virtual annual shareholder meetings
The ritual of public companies hosting their annual shareholders meeting will start again in the coming weeks.
West Michigan manufacturers brace for disruptions from Chinese Coronavirus outbreak
A tooling engineer from Grand Rapids-based Tier-1 supplier ADAC Automotive was traveling in the Wuhan area of China when the Coronavirus public health crisis broke in late January.
ADAC joint venture accelerates radar technology for hands-free vehicle access
ADAC Automotive, a Grand Rapids-based Tier 1 automotive supplier, is working toward a new strategy that will bring supplier-initiated technological advances into the sector.
West Michigan auto suppliers brace for continued upheaval
Regardless of when the historic UAW strike against General Motors Co. ultimately ends, the disruptive effect of lost production and earnings will linger, putting further strain on an industry already flagged by slowing sales and tariff disputes with China.
GM strike costs Gentex up to $8 million per week
ZEELAND — The United Auto Workers strike against General Motors has cost Tier 1 automotive supplier Gentex Corp. about $7 million to $8 million per week in lost sales.
With pending $13.2 billion deal, JCI to fully exit West Michigan auto supplier operations
HOLLAND — Johnson Controls International plc would exit its last remaining automotive industry manufacturing operations in West Michigan if it completes a transaction announced this week.
Optimism or Pessimism? Manufacturing execs express ‘caution’ for rest of 2018
As supply chains adjust to new realities in international trade, West Michigan manufacturers are entering the final months of 2018 with “caution.”
Auto suppliers push into tech deals to mitigate disruption
Manufacturers in the automotive supply chain are scooping up acquisitions in emerging technologies to break into new markets before their competition. By moving into alternative powertrains, connected car technologies, artificial intelligence and predictive analytics, suppliers want to position themselves to get ahead of disruptions as the industry shifts to the “car of the future,” according to Jeff Zaleski, U.S. automotive deals leader at PricewaterhouseCoopers LLC, a global consulting firm.
Gentex sales up despite slump in auto production, supplier issue
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.
Federal tax reform benefits manufacturers’ investments in automation equipment
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.
Gov. Snyder calls for more employer involvement in new workforce development initiative
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.
Vehicle interiors become hub for innovation and technology
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.
Gentex partners with Swedish firm for iris-scanning technology
Automotive supplier Gentex Corp. announced long-term exclusive partnership with a Swedish tech firm.
Gentex leads $5 million Series A round in smart home software developer
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.