Summary
Nemak, S.A.B. de C.V., known as Nemak, is a global automotive parts manufacturing company headquartered in García, Nuevo León, a municipality next to the City of Monterrey, Nuevo León, México. The company manufactures a wide range of automotive parts and systems with primary focus on aluminum auto parts, mainly engine blocks, cylinder heads, and transmission components. It is a Tier 1 supplier to major OEMs and is among the 60 largest auto industry suppliers worldwide.[1]
 | |
| Company type | Public |
|---|---|
| BMV: NEMAK A | |
| Industry | Auto Parts Manufacturing |
| Founded | 1979 |
| Headquarters | , |
Area served | Worldwide |
Key people | Armando Garza (Chairman) Armando Tamez (CEO) |
| Products | engine blocks, cylinder heads, transmission components, EV battery and motor housings |
| Revenue |  US$ 4.6 billion (2014) |
| US$ 405 million (2014) | |
| Total assets | US$ 4.0 million (2014) |
Number of employees | 20,000 |
| Parent | Alfa |
| Website | www |
In 2012, the company acquired Wisconsin-based J.L. French Automotive Castings for $215 million.[2][3]
Nemak reported sales of $4.3 billion for 2016[4] and has more than 36 manufacturing plants that employ more than 21,000 people in 16 countries.[5] It has more than 110 patents and conducts R&D in 5 centers. More than 90% of the sales volume was supplied to the 8 largest automotive manufacturers: Ford, General Motors, Fiat-Chrysler, Volkswagen Group, Hyundai-Kia, BMW, Renault-Nissan and Daimler-Benz.[6] Its installed capacity is mainly in North America, where the company has 10 plants in Mexico, 6 in the United States, and 1 in Canada. The remaining plants are located in Europe, in Austria, Czech Republic, Germany, Hungary, Russia, Slovakia, Spain, and Poland; in South America, in Argentina and Brazil; and in Asia, in China and India.
Nemak is a subsidiary of the Mexican industrial conglomerate Alfa, which holds 75.24% of Nemak shares, while Ford Motor Co. holds 5.45% of the shares and the remaining 19.31% are public shares offered in the BMV.[7]
In early 2015, Nemak´s parent company, Alfa, announced it may hold an initial public offering to list Nemak in the Mexican Stock Exchange as soon as June, as a strong U.S. dollar boosts the value of the division’s assets.[8]
In 2021, Nemak was awarded a contract with Tesla and expanded its manufacturing facilities in Sheboygan, Wisconsin.[9][10] The company had previously turned down a request from Tesla in 2018.[11]
References edit
- ^ Top 100 Global OEM auto parts suppliers. AutoNews
- ^ "J.L. French acquired for $215 million". Milwaukee Business Journal. June 29, 2012. Retrieved 20 April 2022.
- ^ "Sheboygan's J.L. French to be sold to Mexican company". Milwaukee Journal Sentinel. April 12, 2012. Retrieved 20 April 2022.
- ^ Alfa 4Q14 Report
- ^ Nemak 2014 Annual Report
- ^ Nemak 2014 Annual Report
- ^ Nemak Shareholder Structure
- ^ Mexico’s Alfa Sees Nemak IPO as Soon as June on Dollar Gain. Bloomberg
- ^ "Nemak lands Tesla contract, 53 new jobs created". WKTS. September 20, 2021. Retrieved 20 April 2022.
- ^ "Nemak updating Gateway Drive warehouse for new contract". The Sheboygan Sun. August 10, 2021. Retrieved 20 April 2022.
- ^ "Elon Musk's Lofty Tesla Goals Made This Supplier Recoil at Risk". Bloomberg. September 6, 2018. Retrieved 20 April 2022.