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AUBURN HILLS, Mich., Aug. 13, 2019 /PRNewswire/ -- Nexteer Automotive, a head at intuitive motion control, reported econmic results although the six-month era ended June 30, 2019, including revenue of US$1.832 billion and net amuse attributable ought equity holders of US$131 million. Nexteer's Backlog of Booked affair increased ought US$25.6 billion can the purpose of June 2019, a 1.6% increase when compared with year-end 2018.
Nexteer faced a quantity of macro-environmental challenges during the first half of 2019, including slowing OEM flash vehicle product at each served area and unfavorable foreign coin translation compared with the identical era at 2018. The decline at China OEM flash vehicle product of 13.5% and a North America guest vehicle platform transition impacting revenue derived from the Company's Steering Column manufacture row were the most important factors driving lower revenue at the first half of 2019 compared with the identical era a year ago.
"Although industry dynamics provided a net headwind ought Nexteer's econmic rule at the first half of 2019, we continued ought build upon the foundational pillars of our affair – value-focused manufacture create and development, expansion of our footprint and the continued motivate although operational excellence at everything we do," said Guibin Zhao, Nexteer Automotive CEO. "We remain focused above executing our tactic although advantageous growth, and the results of our efforts are being recognized by our customers although evidenced by a growing Backlog at an extremely competitive environment."
In the first half of 2019, Nexteer continued its concentrate above operational excellence with the successful launch of 21 new guest vehicle programs over multiple manufacture lines and regions – including nine programs at North America, 10 at Asia Pacific and two at Europe, Middle East, Africa & South America.
Nexteer either continued expansion and diversification of its global footprint at regions strategically important ought key customers – including the opening and launch of Nexteer's India Software core ought farther uphold downstream software product and validation, the big opening of the Company's first product facility at Africa at Kenitra, Morocco , and new product instrument at Chennai, India and Liuzhou, China .
By focusing above execution and innovation cabin comprehending megatrends, such although electrification and new mobility opportunities, Nexteer continues ought prove its energy although a technique leader. at the first half of 2019, the corporation enhanced its global strategic software affair model and showcased its different electric force steering (EPS) leadership over product milestones, including product of Nexteer's 60 millionth EPS system globally. Nexteer either continued ought collaborate with OEM customers and industry peers ought progress innovations although motion deal with solutions and motivate affair growth at automotive and new mobility applications.
ABOUT NEXTEER
Nexteer Automotive (HK 1316), a global head at intuitive motion control, is a multi-billion dollar global steering and driveline affair delivering electric and hydraulic force steering systems, steering columns, driveline systems, either although advanced driver aid systems (ADAS) and automated driving enabling technologies although creative tool manufacturers (OEMs). The corporation has 27 manufacturing plants, three technical centers and 14 guest service centers strategically located at North and South America, Europe, Asia and Africa. The corporation serves more than 60 customers at each chief area of the earth including BMW, Fiat Chrysler, Ford, GM, PSA Groupe, Toyota and VW, either although automakers at India and China. www.nexteer.com
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SOURCE Nexteer Automotive
