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February 17, 2013
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Michigan Gov. Rick Snyder watches a demonstration of Nexteer's electronic power steering system. SAGINAW FUTURE: $241 Million Investment in 35 Projects Touted at Meeting
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Saginaw Future Inc. (SFI) recently recognized 35 economic development projects from 2012 that led to nearly $241 million invested in Saginaw County.
SFI's 21st ANNUAL AWARDS Luncheon was attended by more than 400 business and community leaders at the Horizons Conference Center.
SFI Along with the Economic Excellence Awards, Merrill Technologies Group was selected as the Saginaw Future Procurement Technical Assistance Center Contractor of the Year for the second year in a row.
"Business leadership and quality companies located in Saginaw County and the Great Lakes Bay Region are Driving the Future," said SFI Chairman Richard J. Garber. "In 2012, over 1,000 jobs were created and retained due to their commitment."
Saginaw County and the Great Lakes Bay Region saw the continued resurgence of the auto industry with major investments by Nexteer Automotive and GM - Saginaw Metal Casting Operations.
Advanced Manufacturing had impressive gains with 12 projects and the Health Services and Medical Device sectors announced major investments by the CMU College of Medicine, Covenant HealthCare, Dow Corning HIMS and more.
Six service oriented companies added to the diversification of our local economy, included a major investment by Morley Companies, along with new renewable energy projects and agribusiness.
Saginaw Future President JoAnn Crary stated, "The successful projects announced in 2012 are the direct result of collaboration and pursuit of growth for Saginaw County and the Region. The Economic Excellence Awards feature the companies investing in our community, which are supported by economic organizations, workforce development, local leadership and the State."
The ANNUAL AWARDS Luncheon featured speaker was Laurent Bresson, president and COO for Nexteer Automotive. Bresson highlighted Nexteer's turnaround and its commitment to community.
Nexteer Automotive is establishing a new fund that will award $10,000 in annual grants to Saginaw area charitable programs and initiatives.
WSGW Radio reported that Nexteer President and COO Laurent Bresson announced the Steering the Future Fund Friday at Saginaw Future's annual awards luncheon.
The Saginaw Community Foundation will administer the fund, and a team Nexteer employees will select worthy causes and recipients based on a list of established criteria.
Bresson said the company hopes the Steering the Future Fund will leave a lasting impact on the community.
Global automotive supplier Nexteer Automotive has shipped its 20 millionth electric power steering (EPS) unit, saving more than 2 billion gallons of fuel globally since it sold its first EPS unit in 1999, the tier one automotive supplier has announced. The 20 millionth EPS unit was produced at Nexteer's manufacturing plant in Tychy, Poland.
"As fuel economy standards have become increasingly more stringent, Nexteer's expanding global footprint has helped us meet the growing demand for electronic power steering systems around the world, which in turn has allowed us to reach this milestone quickly," said Laurent Bresson, president and chief operating officer of Nexteer.
"We have the vehicle system expertise and in-house electronics capabilities to personalize EPS systems for each automaker, making Nexteer a leading EPS supplier globally."
In December, Nexteer announced plans for a $70 million investment and 325 new jobs at its world headquarters in Saginaw as a result of a major EPS contract with a North American automaker. This announcement was on the heels of more than $220 million invested globally in 2011 to expand and updates its EPS manufacturing capacity.
"Nexteer's commitment to listening and understanding unique customer needs and our ability to deliver products that are personalized to each automakers' brand DNA is certainly paying off," said Frank Lubischer, vice president of global engineering and chief operating officer European operations.
"We predict that within the next ten years, more than 90 percent of the global steering market will transition to EPS."
Nexteer has announced plans to double its business in Saginaw. ###
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