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Nexteer’s Net Profit Jumps 21% in First Half
Steering systems supplier Nexteer Automotive Corp. says its next profit in January-June climbed 21% to $180 million.
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Steering systems supplier Nexteer Automotive Corp. says its next profit in January-June climbed 21% to $180 million. Revenue advanced 3% to nearly $2 billion.
The Auburn Hills, Mich.-based company attributes the growth the new products, a richer sales mix and greater operating efficiencies. Nexteer also is bolstering its presence in the advanced mobility market with driver assistance systems and other technologies.
The company notes that it introduced major new electric power steering and driveline product lines in the first half of 2017. Nexteer also agreed to form a venture with Continental Automotive Systems involving motion control systems and actuator components for automated driving.
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