"As vehicles become more advanced and, as drivers, we expect more from our vehicles, suppliers must rise to the challenge with new, innovative products." -- GRNCDA President Tom Makarewicz.
Tom Makarewicz, President of the Grand Rapids New Car Dealers Association, presents the 2016 Supplier of the Year Award to Steve Downing, Senior Vice President & Chief Financial Officer of Gentex Corp. GRAND RAPIDS, MI - Gentex Corp. of Zeeland was recognized as a "pioneer in auto safety" when it was awarded the Automotive Supplier of the Year award by the Grand Rapids New Car Dealers Association. The award was presented on Wednesday, Jan. 27, at the Michigan International Auto Show.
Gentex, which announced record sales and earnings on Thursday, Dec. 28, makes automatic dimming rearview mirrors and other camera-based safety features for automobiles, automatic dimming windows for commercial aircraft and fire suppression systems.
"It is an honor to recognize Gentex Corp. as a pioneer in auto safety," said Tom Makarewicz, GRNCDA President in presenting the award to Steve Downing, Gentex senior vice president and chief financial officer. The association gives the award every year to a West Michigan-based manufacturer of auto parts.
"As vehicles become more advanced and, as drivers, we expect more from our vehicles, suppliers must rise to the challenge with new, innovative products. Gentex is a West Michigan company doing just that by making the connected car safer for drivers around the globe," Makarewicz said.
"I'm pleased to accept this award on behalf of Gentex Corp.," said Downing. "For over 30 years, Gentex has used the rearview mirror as a strategic electronic module - the ideal location for advanced vision systems, telematics components, displays and more.
"Gentex is proud to be recognized as a West Michigan company that is changing and improving technology for the automotive industry and providing jobs here in West Michigan."
Zeeland-based Gentex announced record fourth quarter and 2015 full-year sales and profits on Thursday, Jan. 28.
The company reported total fourth quarter sales of $405.6 million - a 16 percent increase. Net profits for the fourth quarter were $88.4 million, or 30 cents per share -- a 25 percent increase over the fourth quarter of 2015.
For all of 2015, Gentex' net sales increased 12 percent to $1.54 billion, compared to $1.38 billion for 2014, thanks to a 14 percent increase in auto-dimming interior and exterior mirror unit shipments. Net profits were $318.5 million, up 10 percent when compared to the previous year.
Jim Harger covers business for MLive/Grand Rapids Press. Email him at jharger@mlive.com or follow him on Twitter or Facebook or Google+.