| Nexteer Automotive launches new website, sets big goals to match Auto Show presence |
| Written by Kathryn Lynch-Morin | ||||||
| Wednesday, 11 January 2012 | ||||||
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More than 50 cars on the floor at the North American International Auto Show in Detroit feature products from Buena Vista Township-based Nexteer Automotive.
Ford F150's and Mustangs, Fiat 500's, and even the new 2013 Cadillac ATS, which made its world debut at the show, are serving as the perfect platform, said Luis Canales, spokesman for the company, as Nexteer expands to serve new markets and new customers. Nexteer entire product portfolio can be found in Detroit: Electric power steering, hydraulic power steering, drive lines and half shafts are all on display. To coincide with the Auto Show's Industry Days, Nexteer launched a revamped website, done by focusing on innovation, global growth, fuel efficient technology, and the company's high-performance culture, Canales said. The Auto Show also is serving as a bit of a celebration for Nexteer, which is starting 2012 at the end of two record-breaking years. In 2010 and 2011, Nexteer booked nearly $10 billion in new business, with 60 percent of that new business coming from sales of electric power steering. Boosts in sales of electric power steering are attributed to auto makers working to reach higher standards of fuel efficiency, Canales said, and electric power steering can deliver between 3 to 6 percent fuel savings. "Nexteer is at the forefront of (electric power steering) technology," he said. By the end of 2016, Nexteer expects to be the electric power steering market leader, with a hold on 21 percent of the market, Canales said. Additionally, the company projects having its electric power steering technology on 90 percent of the full size trucks produced in North America. On Thursday, Robert J. Remenar, president and chief executive officer of Nexteer, will participate in an Automotive News World Congress panel titled "China: What's the status of China automotive industry and where are the opportunities for growth?" Chinese state-owned parts manufacturer AVIC Automobile Industry Holding Co. in March acquired a 51 percent stake in Nexteer’s owner, Pacific Century Motors. General Motors Co. sold the global automotive steering maker in 2010 to Pacific Century, whose majority owner is Beijing E-Town International, an arm of the Beijing municipal government.
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