Nexteer Automotive


Nexteer Automotive is an automotive parts supplier owned by Pacific Century Motors and headquartered in Auburn Hills, Michigan, United States. Nexteer is a business delivering electric and hydraulic power steering systems, steering columns, driveline systems, as well as advanced driver assistance systems and automated driving enabling technologies for original equipment manufacturers. The company has 28 manufacturing plants, three technical centers, one software center and 13 customer service centers located in North and South America, Europe, Asia and Africa. The company serves more than 60 customers in every major region of the world including BMW, Fiat Chrysler, Ford, GM, PSA Groupe, Toyota and VW, as well as automakers in India and China.

History

Nexteer's original predecessor was founded in 1906 under the name Jackson, Wilcox and Church. Their product was named the Jacox gear. In 1909, the unit was purchased by Buick then was transferred to parent company General Motors as the Jackson, Church and Wilcox Division. The division was renamed Saginaw Product Company in 1919 and Saginaw Steering Gear Division in 1928. The trade name of Jacox was changed to Saginaw in 1930. Saginaw Steering for 90 years was a part of GM. Saginaw Division became the division's name in 1985. The Saginaw Division is group with other GM component units into Automotive Components Group. GM in 1999 spun off its parts group as Delphi Automotive including Saginaw Steering. Saginaw Division was renamed Delphi Steering.

Nexteer

With Delphi entering a lengthy bankruptcy proceeding, GM purchased Delphi Steering through their subsidiary, GM Global Steering Holdings LLC, in 2009 and renamed the company, Nexteer Automotive. GM moved to have the union change their contract with Nexteer in order to prepare the company for a sale as Nexteer had multiple customers besides GM. After the first offered agreement, GM warned the employees that this may hamper finding a buyer; the results being that GM may just shut Nexteer down. A second agreement was ratified by the union. The Michigan Economic Growth Authority gave a $70.7 million state tax credit over ten years to Nexteer in November 2009. Nexteer announced that same month investment plans totaling $400 million across the board and keeping its headquarters in Buena Vista Township. The Township responded with a 100 percent 20 year tax abatement. Nexteer was acquired by Pacific Century Motors on November 29, 2010. After the purchase, Nexteer was split into two separate companies.
Nexteer originally was going to go public on the Hong Kong Stock Exchange in June 2013, but the IPO was delayed until October 2013.
The company relocated its headquarters to Auburn Hills, Michigan in 2015.

Technology

History