Business
Gentherm Announces Consolidation in North American Manufacturing
NORTHVILLE, Mich., March 05, 2020 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), a global market leader and developer of innovative thermal management
About this update from Gentherm Inc
[{"type":"text","content":"NORTHVILLE, Mich., March 05, 2020 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), a global market leader and developer of innovative thermal management technologies, today announced changes to optimize and drive operational efficiencies across its North American manufacturing base as part of the Company’s global manufacturing restructuring plan announced in September 2019.\n As part of the current phase of the restructuring plan, Gentherm will consolidate all North American electronics manufacturing to Celaya, Mexico. This will result in the closure of the Burlington, Canada facility, and the transfer of electronics manufacturing from Acuña, Mexico. “The decision announced today was a difficult one, but part of an overall plan that will strengthen our electronics business, deliver operational efficiencies across our global footprint and continue to drive shareholder value,” said Phil Eyler, President and CEO of Gentherm. “The expanded manufacturing space in Celaya, Mexico will enable us to adapt to the rapidly transforming electronics industry, build upon our manufacturing excellence, and continue to deliver world class electronics products to our customers.” The restructuring of Gentherm’s North American electronics manufacturing will be completed by mid-2021. The decision will affect approximately 350 Canadian and Mexican salaried and hourly employees. “We acknowledge that these decisions impact our employees’ lives and we are committed to helping those who are impacted through their transitions,” Eyler stated. Investor Contact Yijing Brentano [email protected] 248.308.1702 Media Contact Melissa Fischer [email protected] 248.289.9702 About Gentherm Gentherm (NASDAQ:THRM) is a global developer and marketer of innovative thermal management technologies for a broad range of heating and cooling and temperature control applications. Automotive products include variable temperature Climate Control Seats, heated automotive interior systems (including heated seats, steering wheels, armrests and other components), battery thermal management systems, cable systems and other electronic devices. Medical products include patient temperature management systems. The Company is also developing a number of new technologies and products that will help enable improvements to existing products and to create new product applications for existing...