Stoneridge profit shrinks
NOVI—Stoneridge Inc. (NYSE: SRI) reported first quarter net income of $130,000 or less than a penny a share in the first quarter, down from $3.5 million or 13 cents a …
Horizon discloses sales increase, bigger credit line
PLYMOUTH—Officials at Horizon Global Corp. (NYSE: HZN), the manufacturer of branded towing and trailering equipment, announced preliminary net sales results for the first quarter of 2021 and announced a $10 …
Lear acquires injection molding firm
SOUTHFIELD—Lear Corp. (NYSE: LEA), the Southfield manufacturer of automotive seating and electronics systems, announced the acquisition of M&N Plastics, a privately owned, Sterling Heights-based injection molding specialist and manufacturer of …
Shyft Group to build EV work truck bodies
NOVI—DuraMag, a brand of the Shyft Group’s specialty vehicles business unit, will engineer, manufacture, and install vocational body upfits for Boston-based EV Transportation Services Inc. and its FireFly vehicles, making …
New robotics plant in Royal Oak Township
HENDERSON, Nev.—Artificial Intelligence Technology Solutions Inc. (OTC: AITX), a Nevada-based robotics manufacturer, announced that its subsidiary Robotic Assistance Devices has signeda 10-year lease on a new plant in Royal Oak …
Shyft Group swings back to profit despite lower sales
NOVI—The specialty vehicle manufacturer Shyft Group Inc. announced net income of $7.6 million or 21 cents a share in the fourth quarter ended Dec. 31, compared to a loss of …
TriMas reports lower profit on higher sales
BLOOMFIELD HILLS—The diversified manufacturer TriMas Corp. (NASDAQ: TRS) reported net income of $23.7 million in the fourth quarter ended Dec. 31, down from $38.4 million in the same quarter of …
Shyft gets work on new Isuzu medium-duty trucks
CHARLOTTE—The Builtmore Contract Manufacturing unit of Novi-based Shyft Group Inc. (NASDAQ: SHYF) has been selected to produce additional options in the F- and N-series lineups for Isuzu Commercial Truck, including …
Meritor to build drivetrains for electric trash trucks
TROY—Officials at the auto supplier Meritor, Inc. (NYSE: MTOR) announced a five-year agreement to supply electric powertrains to Autocar Truks LLC for refuse vehicles. The vehicles will use Meritor’s Blue …
Piston Group subsidiary makes acquisition
SOUTHFIELD—Irvin Products, a subsidiary of the Piston Group formed by Detroit businessman and NBA legend Vinnie Johnson, announced the acquisition of Chicago-based A. Lava & Son, a cover supplier in …