Nexteer Automotive Opens Fourth China Plant
August 24 2015 - 12:20AM
Dow Jones News
Nexteer Automotive opened its fourth manufacturing plant in
China on Monday as the company looks to bolster its place as one of
the world's biggest providers of steering systems and
components.
The factory would allow the Saginaw, Mich.-based company to
double its workforce in Liuzhou, China, to 400 people in 2016, the
company said.
Once a division of General Motors Co., Nexteer was purchased by
the China-based Pacific Century Motors in 2010 and has been growing
since. It operates more than 20 manufacturing plants globally, and
its 2014 revenue was $2.97 billion, a 24% increase from 2013.
Earlier this year, the company said it would move its
headquarters to Auburn Hills from Saginaw to be closer to the heart
of the Detroit auto industry. Fiat Chrysler Automobiles NV is based
in Auburn Hills along with several other parts makers such as
BorgWarner Inc.
Write to Jeff Bennett at jeff.bennett@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 24, 2015 00:05 ET (04:05 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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