Mexican Media Brands
Ohio Electronics Supplier Moving Headquarters to Michigan
Stoneridge Inc., a Warren, Ohio-based supplier of electrical and electronics components, is moving its headquarters to Novi, Mich., to be closer to its automotive and commercial vehicle customers.
#electronics
Share
Stoneridge Inc., a Warren, Ohio-based supplier of electrical and electronics components, is moving its headquarters to Novi, Mich., to be closer to its automotive and commercial vehicle customers.
Some 70 people will be relocated in the move, which is expected to be completed in the third quarter. The Michigan headquarters also will consolidate Stoneridge’s existing sales office in Novi and is expected to help the company recruit new engineers and other automotive specialists.
The 51-year-old company plans to remain incorporated in Ohio. Its manufacturing facilities in North America, including a plant in Lexington, Ohio, won’t be affected by the move, according to the supplier.
Stoneridge has been awarded a $1.4 million grant from the Michigan Economic Development Corp. and $700,000 from Oakland County to support the move. The company has agreed to invest as much as $5.2 million in Michigan.
Stoneridge had sales of $644 million in 2015, down 2% from 2014. Its largest customer is Ford, which accounted for 14% of the supplier's business last year. The company, which employs 4,100 people worldwide, produces electronic control and instrumentation systems, security alarms and sensors.
RELATED CONTENT
-
TRW Multi-Axis Acceleration Sensors Developed
Admittedly, this appears to be nothing more than a plastic molded part with an inserted bolt-shaped metal component.
-
Chevy Develops eCOPO Camaro: The Fast and the Electric
The notion that electric vehicles were the sort of thing that well-meaning professors who wear tweed jackets with elbow patches drove in order to help save the environment was pretty much annihilated when Tesla added the Ludicrous+ mode to the Model S which propelled the vehicle from 0 to 60 mph in less than 3 seconds.
-
On the 2016 Chevrolet Camaro: The Sixth Generation
The fifth-generation Camaro brought the nameplate back from what could have been oblivion. The sixth is taking it in the right direction.