Gentex Corporation designs and manufactures automatic-dimming rearview mirrors
and electronics for the automotive industry, dimmable aircraft windows for the
aviation industry, and commercial smoke alarms and signaling devices for the
fire protection industry. The Company’s largest business segment involves
designing, developing, manufacturing and marketing interior and exterior automatic-dimming
automotive rearview mirrors that utilize proprietary electrochromic technology
to dim in proportion to the amount of headlight glare from trailing vehicle
headlamps. Within this business segment, the Company also designs, develops
and manufactures various electronics features that are value added features
to the interior and exterior automotive rearview mirrors as well as interior
visors and overhead consoles. The Company ships its products to all of the major
automotive producing regions worldwide, which it supports with numerous sales,
engineering and distribution locations worldwide.
The Company was organized as a Michigan corporation in 1974 to manufacture
smoke detectors, a product line that has since evolved to include a variety
of fire protection products. In 1982, the Company introduced an interior electro-mechanical
automatic-dimming rearview mirror as an alternative to the manual day/night
rearview mirrors for automotive applications. In 1987, the Company introduced
an interior electrochromic automatic-dimming rearview mirror for automotive
applications. In 1991, the Company introduced an exterior electrochromic automatic-dimming
rearview mirror for automotive applications. In 1997, the Company began making
volume shipments of three new exterior mirror sub-assembly products: thin glass
flat, convex and aspheric. In 2005, the Company began making volume shipments
of its new bezel-free exterior automatic-dimming mirror. In 2005, the Company
announced, and in 2010 began delivering electrochromic dimmable aircraft windows
for the aviation industry. In 2013, the Company acquired HomeLink®, a wireless
vehicle/home communications product that enables drivers to remotely activate
garage door openers, entry door locks, home lighting, security systems, entry
gates and other radio frequency convenience products for automotive applications,
wherein the Company had previously been a licensee of HomeLink® and had
been, since 2003, integrating HomeLink® into its interior automatic-dimming
rearview mirrors. In 2015, the Company began making volume shipments of the
Full Display Mirror, which is an on-demand, mirror-borne LCD display that streams
live, panoramic video of the vehicles rearward view in order to improve driver
rear vision. Also in 2015, the Company signed an exclusive agreement in the
ordinary course of business with TransCore to integrate TransCores Universal
Toll Module™ ("UTM") technology into its interior automatic-dimming
rearview mirrors. The interior mirror is the optimal location for a vehicle-integrated
toll transponder and it eliminates the need to affix multiple toll tags to the
windshield. Automotive revenues represent approximately 98% of the Companys
total revenue, consisting of interior and exterior electrochromic automatic-dimming
rearview mirrors and automotive electronics.
The Company’s interior electrochromic automatic-dimming rearview mirrors
also power the application of the Company’s exterior electrochromic automatic-dimming
rearview mirrors that darken to reduce glare and improve visibility for the
driver. These electronic exterior mirrors typically range in size and shape
per automaker specification, but also include additional features such as turn
signal indicators, side blind zone indicators, and courtesy lighting. The Company
also ships exterior non-automatic-dimming rearview mirrors with similar electronic
features available in its automatic-dimming applications.
The Company manufactures other automotive electronics products both inside
and outside of the rearview mirror through HomeLink® applications in the
vehicle including the rearview mirror, interior visor, overhead console, or
center console.
The Company continually seeks to develop new products and is currently working
to introduce additional advanced-feature automatic-dimming mirrors. Advanced-feature
automatic-dimming mirrors currently being offered by the Company include, SmartBeam®
and certain driver-assist features, HomeLink®, frameless mirror designs,
LED map lamps, compass and temperature displays, telematics, universal toll
modules, hands free communication, as well as Rear Camera Display (RCD) and
Full Display (FDM) interior mirrors, proprietary exterior turn signals, side
blind zone indicators and various other exterior mirror features that improve
safety and field of view.
12.46% 
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