According to the “Detroit Free Press†report, Nexteer Automotive has announced that in order to fulfill a new contract with an anonymous company, it will invest $70 million in the headquarters of Saginaw and hire 325 more. Employee.
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This new investment will be used to upgrade and expand Nexteer’s development, production and testing capabilities in 2014, including modernizing the plant's infrastructure and investing in high-tech, new production machinery and equipment.
According to Laurent Bresson, Nexteer's president and CEO, “The new contract was outsourced to Saginaw's business unit for two reasons. First, we have cost-competitive operational capabilities. Second, the power steering system components are very complex. Needs to be produced through advanced manufacturing processes."
Nexteer Automotive is a steering system and related technology provider headquartered in Saginaw, Michigan, USA. The company has more than 100 years of research and production experience in the field of automotive steering. It has manufacturing plants, customer service centers and technology research and development centers in 34 countries and regions around the world.