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Nexteer Posts First-Half Gains in Revenue, Profits
Nexteer Automotive Group reports its revenue grew 4% to $2 billion, and net profit jumped 11% to $200 million in the first half of 2018.
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Nexteer Automotive Group Ltd. reports its revenue grew 4% to $2 billion, and net profit jumped 11% to $200 million in the first half of 2018.
The steering, driveline and driver assist systems supplier says its operating profit for the period was unchanged at $240 million. The company’s backlog of booked business expanded 4% to $24.9 billion over the period.
Nexteer says its revenue in January-June rose 3% to $1.3 billion in North America, 1% to $418 million in Asia Pacific and 14% to $286 million in Europe, the Middle East and South America.
The supplier considers software, electronics and vehicle integration as key differentiators for its products. The company is heavily focused on the development of advanced driver assist systems, steer-by-wire and other innovations related to self-driving vehicles.
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