Displaying items by tag: Gentex Corp

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.”