--Company Added New Customers and Continued Global Footprint Expansion in 2018 

Nexteer Automotive ( 
https://c212.net/c/link/?t=0&l=en&o=2399949-1&h=3245530753&u=http%3A%2F%2Fwww.nexteer.com%2Fnews-releases%2F&a=Nexteer+Automotive 
) today reported annual results for its fiscal year ended December 31, 2018, 
with revenue reaching US$3.912 billion, an increase of 0.9% when compared with 
2017. Profit attributable to equity holders for the year ended December 31, 
2018 rose 7.9% to US$380 million compared with 2017. Nexteer generated US$97 
million in total cash flow for the year ended December 31, 2018 which included 
the early paydown of US$43 million of debt balances under the company's 
disciplined capital allocation approach. Nexteer's backlog stood at US$25.2 
billion at the end of 2018 -- a 5.4% increase year-over-year from 2017.

"Our strong 2018 financial performance and continued enterprise diversification 
among product lines, customers and regions demonstrate that Nexteer is 
well-positioned for the future," said Guibin Zhao, Chairman and CEO of Nexteer 
Automotive. "These results highlight our commitment to delivering long-term 
profitable growth for shareholders and long-term value for our customers, 
suppliers, employees and society."

In the past two years, the Company has added five new electric power steering 
(EPS) customers -- bringing its total number of customers globally to more than 
60. In addition to gaining new customers, Nexteer has increased product 
exposure with current customers. By leveraging strong relationships and 
consistent product quality and customer service, Nexteer secured several 
additional product applications at targeted customers during 2018.

Nexteer also continued expansion and diversification of its global footprint in 
regions strategically important to key customers. In 2018, Nexteer opened a new 
manufacturing facility in Queretaro, Mexico and broke ground on new facilities 
in Chennai, India; Kenitra, Morocco; and Wuhan, China. Nexteer also announced 
the addition of a software centre in India to support growing demand for 
software-enabled functionality in advanced steering applications. Both the 
India Software Centre and the Chennai, India manufacturing facility celebrated 
their grand openings in January 2019. 

Nexteer's 2018 results also demonstrate the Company's focus on execution and 
innovation. In 2018, the Company successfully launched 22 new customer programs 
across multiple product lines, regions and customers, including the 
award-winning Fiat Chrysler Ram 1500 in North America. Working with global OEM 
customers and other industry partnerships, such as Continental and WABCO, 
Nexteer continued to strengthen its technology leadership and progressed the 
commercial readiness of new steering applications. Our dedication to relentless 
innovation enables us to differentiate Nexteer as we solve motion control 
challenges for today's world and an automated future, which makes us a leader 
in intuitive motion control.

"In addition to Nexteer's relentless efforts being rewarded in business 
performance, our 2018 efforts were also validated by prestigious customer 
awards and industry recognition for technology innovations, quality and 
supplier-partner relationships," said Zhao.

Some of the most notable customer awards that Nexteer received in 2018 were 
from two key customers -- GM and Ford. In 2018, Nexteer received GM's top 
Innovation Award for its High Availability EPS that delivers advanced safety to 
enable Levels 3 -- 5 ADAS capabilities in automated driving. Ford recognized 
Nexteer's manufacturing innovation and quality with two awards -- the 2018 
World Excellence Award and a Silver Award for Manufacturing Excellence. In 
addition, Nexteer also earned several industry recognitions -- most notably 
Frost & Sullivan's Engineering & Production Technology Leadership Award for its 
virtual process simulations and real-time monitoring technologies that 
significantly reduce cost, optimize processes, enhance quality and improve 
product performance. 

ABOUT NEXTEER 
Nexteer Automotive (HK 1316), a global leader in intuitive motion control, is a 
multi-billion dollar global steering and driveline business delivering electric 
and hydraulic power steering systems, steering columns, driveline systems, as 
well as advanced driver assistance systems (ADAS) and automated driving 
technologies for original equipment manufacturers (OEMs). The company has 25 
manufacturing plants, three technical centers and 14 customer service centers 
strategically located in North and South America, Europe and Asia. The company 
serves more than 60 customers in every major region of the world including BMW, 
Fiat Chrysler, Ford, GM, PSA Group, Toyota and VW, as well as automakers in 
India and China. www.nexteer.com

IMAGES:  
--Click here for Nexteer's Media Center that Includes Logos, Executive
  Headshots and Product Images ( 
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)

SOURCE: Nexteer Automotive

CONTACT: Erin Heinrich, Nexteer Automotive, Global Marketing Communications, +1 
(248) 340-8302, erin.heinrich@nexteer.com