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Nemak to provide high value-added assemblies worth US$50 million in annual revenues
Monterrey, Mexico. November 15, 2018. — Nemak, S.A.B. de C.V. ("Nemak") (BMV: NEMAK), a leading provider of innovative lightweighting solutions for the global automotive industry, today announced that it has won new contracts to supply structural and electric vehicle components worth US$50 million in annual revenues. With this, the company has secured contracts to date in this segment representing approximately US$450 million in revenues on an annualized basis.
"This new business will enable us to further leverage our expertise and global footprint, combining casting and robotic welding, gluing, and riveting technologies to provide complex assemblies for vehicle structures of European OEMs," said Armando Tamez, CEO of Nemak. "Moreover, as our customers accelerate their vehicle lightweighting and electrification plans, our track record in structural and electric vehicle components is helping us to build up an attractive quotation pipeline, which is worth today approximately US$1.2 billion in annual revenues in the segment."