Displaying items by tag: Gentex Corp

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.

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.

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.

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.

ZEELAND — A recent acquisition by Gentex Corp. will allow the Zeeland-based company to expand on its offerings to the aerospace industry.

When asked how his company is managing the fallout of a microchip shortage that has crippled the automotive industry, Neil Boehm paused.

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.

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.

ZEELAND — Tier 1 automotive supplier Gentex Corp. capped off 2020 with a blistering final three months of sales. 

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.

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.

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.

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.

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.

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.

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.

The ritual of public companies hosting their annual shareholders meeting will start again in the coming weeks. 

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 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. 

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.

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. 

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.

As supply chains adjust to new realities in international trade, West Michigan manufacturers are entering the final months of 2018 with “caution.”

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.

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.