Stoneridge, Inc. is a global designers and manufacturer of highly engineered electrical and electronic systems, components and modules for the commercial, automotive, off-highway and agricultural vehicle markets.
The company’s systems and products power vehicle intelligence, while enabling safety and security for on-and off-highway transportation sectors around the world. The company’s worldwide footprint is primarily consisted of 21 locations in 14 countries and enables it to supply global com...
Stoneridge, Inc. is a global designers and manufacturer of highly engineered electrical and electronic systems, components and modules for the commercial, automotive, off-highway and agricultural vehicle markets.
The company’s systems and products power vehicle intelligence, while enabling safety and security for on-and off-highway transportation sectors around the world. The company’s worldwide footprint is primarily consisted of 21 locations in 14 countries and enables it to supply global commercial, automotive, off-highway, agricultural and other vehicle markets.
The company's custom-engineered products and systems are used to activate equipment and accessories, monitor and display vehicle performance and control, distribute electrical power and signals, and provide vehicle safety, security, and convenience. The company's product offerings consist of actuators, sensors, switches and connectors, advanced driver information products, vision systems, connectivity and compliance solutions, control modules, vehicle tracking devices and monitoring services, vehicle security alarms and convenience accessories, telematics solutions, and multimedia devices. The company supplies the majority of its products, predominantly on a sole-source basis, to many of the world’s leading commercial vehicle, automotive, and off-highway original equipment manufacturers (OEMs), and select non-vehicle OEMs, as well as certain automotive and commercial vehicle Tier 1 suppliers. The company's customers are increasingly utilizing electronic technology to comply with more stringent regulations, (particularly emissions and safety), and to meet end-user demand for improved vehicle performance and greater convenience. As a result of this trend, per-vehicle electronic content has been increasing. The company's technology and partnership-oriented approach to product design and development enable it to develop next-generation products and systems aligned with these trends.
Segments and Products
The company conducts its business in three reportable business segments, which are the same as the company’s operating segments: Control Devices, Electronics and Stoneridge Brazil.
Control Devices
The company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle. This segment includes product lines such as actuators, sensors, switches and connectors. Actuator products enable OEMs to deploy power functions in a vehicle and can be designed to integrate switching and control functions, including the company’s park lock and front-axle disconnect products. Sensor products are employed in major vehicle systems, such as the emissions, safety, powertrain, braking, climate control, steering and suspension systems and are now being applied to electric vehicle thermal management systems. Switches and connectors transmit signals that activate specific functions. The company’s switch and connector technology is principally used in two capacities, user-activated and hidden. User-activated switches are used by a vehicle’s operator or passengers to manually activate in-vehicle accessories. Hidden switches are not typically visible to vehicle operators or passengers and are engaged to activate or deactivate selected functions as part of normal vehicle operations. The company sells these products principally to the automotive market. To a lesser extent, the company also sells these products to the commercial vehicle and agricultural markets.
Electronics
The company’s Electronics segment designs and manufactures advanced driver information solutions, vision systems, connectivity and compliance solutions and control modules. Advanced driver information solutions and connectivity and compliance products collect, store and display vehicle information such as speed, pressure, maintenance data, trip information, operator performance, temperature, distance traveled, and driver messages related to vehicle performance. Vision systems provide enhanced vehicle visibility and safety to drivers. These products are sold principally to the commercial vehicle and off-highway markets through both the OEM and aftermarket channels.
Stoneridge Brazil
The company's Stoneridge Brazil segment primarily serves the South American market and designs and manufactures vehicle tracking devices and monitoring services, driver information systems, vehicle security alarms and convenience accessories, telematics solutions, and multimedia devices primarily for the automotive and commercial vehicle markets. This segment includes product lines such as vehicle monitoring and tracking devices, driver information systems, security alarms, convenience applications, such as parking sensors and rearview cameras, telematics solutions used for fleet management, and multimedia devices. These products improve the performance, safety, and convenience features of the company's customers' vehicles. Stoneridge Brazil sells its products through the aftermarket distribution channel, directly to OEMs, and to factory-authorized dealer installers, also referred to as original equipment services. In addition, monitoring services and tracking devices are sold directly to corporate and individual customers.
The company’s products and systems are sold to numerous OEM and Tier 1 customers, as well as aftermarket distributors, for use on many different vehicle platforms. The company supplies multiple parts to many of its principal OEM and Tier 1 customers under requirements contracts for a particular vehicle model. These contracts range in duration from one year to the production life of the model, which commonly extends for three to seven years.
Seasonality
The markets for products in each of the company’s reportable segments have been cyclical. Because these products are used principally in the production of vehicles for the commercial, automotive, off-highway and agricultural vehicle markets, revenues and therefore results of operations, are significantly dependent on the general state of the economy and other factors, like the impact of environmental regulations on the company’s customers and end market consumers, which affect these markets. The company’s Control Devices and Electronics segments are moderately seasonal, impacted by mid-year and year-end shutdowns and the ramp-up of new model production at key customers. In addition, the demand for the company’s Stoneridge Brazil segment consumer products is typically higher in the second half of the year (year ended December 2024).
Customers
The company has several customers that account for a significant percentage of the company’s sales. The company supplies numerous different products to each of the company’s principal customers. Contracts with several of the company’s customers provide for supplying their requirements for a particular model, rather than for manufacturing a specific quantity of products. Such contracts range from one year to the life of the model, which is generally three to seven years.
Research and Development Activities
The company incurred and was reimbursed for contracted research and development costs of $11,883 for the year ended December 31, 2024.
History
Stoneridge, Inc. was founded in 1965. The company was incorporated in 1988.
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