The registrant operates a Metal Forming segment that supplies component parts to customers including General Motors (GM), Ford Motor Company, and Stellantis N.V. Sales to GM accounted for approximately 44% of consolidated net sales in 2025, 42% in 2024, and 39% in 2023. Sales to Ford represented about 15% in 2025, 13% in 2024, and 12% in 2023, including driveline system products for certain vehicle programs and other Metal Forming segment products. Sales to Stellantis were approximately 13% in both 2025 and 2024, and 16% in 2023, encompassing driveline system products and other Metal Forming segment products. No other customer accounted for 10% or more of consolidated net sales during these periods.
The company's business strategy emphasizes operational excellence, cost management, and diversification across customer, product, and geographic sales mix. It maintains operational standards through global systems focused on safety (S 4), quality (Q 4), energy, and environmental sustainability (E 4). The company sustains a cost-competitive and flexible global manufacturing footprint and employs vertical integration to reduce costs and mitigate risk. The Metal Forming segment also supplies parts to the Driveline segment to ensure supply continuity.
In 2025, the company launched seven programs for customers including Ford, Stellantis, Skywell, and Dongfeng Motor Group. New programs are expected in 2026 for customers including GM, Audi, Volkswagen, FAW Group, and Phoebus. The company maintains high quality standards through its Q 4 internal quality assurance system, with four global facilities receiving the GM Supplier Quality Excellence Award for 2024 performance.
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