Solid New Business Awards
Gentherm secured $400 million in automotive new business awards during the quarter, including significant wins with a Japanese OEM and Volvo. This demonstrates progress in expanding their global business and customer diversification.
Medical Business Growth
The medical segment saw revenues increase by 6% (adjusted for foreign exchange), driven by growth in Europe. Gentherm is leveraging its core technology platforms to explore new opportunities in medical applications.
Recognition by General Motors
Gentherm was recognized as General Motors Supplier of the Year for the third time, highlighting their strong relationship and innovative technology.
Strategic Footprint Realignment
The company is realigning its production footprint to optimize capacity and lower manufacturing costs, including consolidations in North America, Europe, and Asia.