Auto Parts Supplier Announces Plans for New HQs in Suburban Detroit, Continues Growth in Saginaw
- Mar 04, 2015
Nexteer Automotive, a global auto supplier, announced plans to establish its headquarters to suburban Detroit in an effort to grow its brand recognition. The company, which is currently based in Saginaw County’s Buena Vista Township, was created by two Chinese companies—state-owned parts maker AVIC Automobile Industry Holding Co. and the Beijing Economic and Technological Development Area, or Beijing E-town—in 2010, when the joint venture acquired the former Delphi Global Steering Division at auction for $465 million. Three years later Nexteer was listed on the Hong Kong Stock Exchange and the value of all its stock is currently valued at $2.5 billion, according to the Detroit Free Press.
Nexteer has around 11,000 employees worldwide, 5,000 of which are in Michigan. “Establishing a stand-alone global headquarters in the greater Detroit area demonstrates our commitment to the state of Michigan and provides us with a strong platform for long term success,” said Laurent Bresson, president and global COO. “Having our top leadership, global management and functional staff closer to customers, industry leadership and decision makers will be an asset as we continue to grow both in North America and in our operations around the globe.”
Though it hasn’t named a specific site for the new headquarters, the auto parts supplier announced that business assessment is currently underway for its new home in Oakland County. Nexteer’s will move into the home in 2016 and, according to the company, a mix of 150 current employees and new recruits will be employed there.
Nexteer’s Global Engineering Center and Saginaw Division will continue to operate at the Saginaw site, which now employs nearly 90 engineers. According to an official press release, the company plans to hire at least 65 new employees at the existing location throughout 2015.
Image via Nexteer’s Facebook Page