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Last €0.90 EUR
Change Today +0.007 / 0.78%
Volume 0.0
As of 9:31 AM 10/2/15 All times are local (Market data is delayed by at least 15 minutes).

nexteer automotive group ltd (8NX) Snapshot

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52 Week High
05/27/15 - €1.17
52 Week Low
08/24/15 - €0.62
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nexteer automotive group ltd (8NX) Details

Nexteer Automotive Group Limited, an investment holding company, designs, manufactures, and supplies steering and driveline systems and components for automobile manufacturers and other automotive-related companies in North America, Europe, and China. It provides electric power steering products, including column, pinion, and rack assist electric power steering products, as well as electric power steering (EPS) intermediate shafts, and EPS rack and pinion gears; and hydraulic power steering products, such as variable-effort power steering, rack and pinion gears, recirculating ball steering gears, power steering and CB pumps, power steering and high flow reservoirs, power steering hose sets, and droop flow options for power steering pumps. The company also offers torque overlay solutions that analyze input from various vehicle systems to determine the appropriate response to various conditions. In addition, it provides steering columns, including electronics, modules, and sub-assemblies comprising actuators, column electronic assemblies, lock housings, shrouds, and shift mechanisms; and telescoping, cardan joint, constant-velocity joint, and EPS intermediate shafts. Further, the company offers front wheel drive, intermediate drive, rear wheel drive, and high-value rear halfshafts, as well as propeller shaft and Crossglide joints; and SunSteer, a solar actuator. Additionally, it provides original equipment services and aftermarket products, as well as remanufactured products for warranty replacement specifications; and customer support/engineering and distribution services. The company was founded in 1906 and is headquartered in Saginaw, Michigan. Nexteer Automotive Group Limited is a subsidiary of Nexteer Automotive (Hong Kong) Holdings Limited.

10,000 Employees
Last Reported Date: 09/9/15
Founded in 1906

nexteer automotive group ltd (8NX) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $576.0K
Senior Vice President, Strategy Officer and E...
Total Annual Compensation: $970.0K
Vice President, Joint Company Secretary and E...
Total Annual Compensation: $506.0K
Compensation as of Fiscal Year 2014.

nexteer automotive group ltd (8NX) Key Developments

Nexteer Automotive Group Limited Announces Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2015

Nexteer Automotive Group Limited announced unaudited consolidated earnings results for the six months ended June 30, 2015. For the six months, the company’s revenue was USD 1,642.3 million, an increase of USD 207.9 million or a 14.5% increase from the six months ended June 30, 2014 of USD 1,434.4 million. Revenue growth was driven by strength in the North America and China markets, the launch of new customer programs, and continued customer conversion to EPS. Revenue was negatively impacted by USD 43.0 million of foreign exchange. Profit attributable to equity holders of the company was USD 96.5 million or 5.9% of total revenue, an increase of 19.3% compared to the six months ended June 30, 2014 of USD 80.9 million or 5.6% of total revenue. For the six months ended June 30, 2015, net cash generated from operating activities was USD 188.1 million, an increase of USD 111.9 million compared to six months ended June 30, 2014 of USD 76.2 million. The increase in cash flows from operating activities is primarily due to increased earnings. This was partially offset by increased demands for working capital driven by higher sales volumes. Operating profit was USD 149,270,000 against USD 122,181,000 a year ago. Profit before income tax was USD 134,414,000 against USD 111,750,000 a year ago. Earnings per share for profit attributable to equity holders of the company for the period ­ basic and diluted were USD 0.04 against USD 0.03 year ago. Adjusted EBITDA was USD 217,821,000 against USD 171,068,000 a year ago. Purchase of property, plant and equipment was USD 80,438,000 against USD 87,132,000 a year ago. Addition of intangible assets was USD 54,380,000 against USD 52,933,000 a year ago.

Nexteer Automotive Opens Fourth Steering Manufacturing Plant in China

Nexteer Automotive announced the opening of its fourth China-based steering manufacturing plant in Liuzhou, China. The plant will produce brush electric power steering systems, which is a unique product specifically designed for the Chinese automotive and other developing markets. Liuzhou was chosen as the location of the new plant due to its proximity to key strategic customers and its highly skilled workforce. The city is one of China's twelve-state export bases of automobiles, parts and components. The facility covers an area of 10,000 square meters.

Nexteer Automotive Group Limited, Q2 2015 Earnings Call, Aug 27, 2015

Nexteer Automotive Group Limited, Q2 2015 Earnings Call, Aug 27, 2015


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