For the second year in a row, Gentex Corporation (Nasdaq: GNTX), the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors and commercial fire protection products, has been named to Business Week’s “Hot Growth Companies” list, which ranks the 100 fastest-growing publicly traded companies.
Gentex is best known for supplying automakers with Night Vision Safety(TM) (NVS®) Mirrors that automatically darken to reduce glare from the headlamps of vehicles approaching from the rear. The brighter the glare, the darker the mirrors become, making nighttime driving safer.
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In this its 16th annual list, Business Week ranks Gentex 77th overall, listing the Company’s three-year average sales and earnings increases as 20.7 percent and 39.7 percent, respectively.
According to Business Week, the list selection process begins by ranking companies according to their three-year results in sales growth, earnings growth, and return on invested capital. A company’s composite rank is the sum of 0.5 times its rank in return on total capital plus 0.25 times each of its growth ranks. To qualify, a company has to have annual sales of more than $25 million and less than $500 million, a current market value greater than $25 million, a current stock price greater than $5, and be actively traded.
“We’re often pigeon holed solely as an automotive supplier,” said Gentex Executive Vice President Ken La Grand. “But we’re really a technology company that just happens to have products in the automotive industry. Awards like this help demonstrate to the market that we’re a growth company worthy of a closer look.”
Gentex Corporation is an international company that provides high-quality products to the worldwide automotive industry and North American fire protection market. The Company develops, manufactures and markets proprietary electro-optic products, including interior and exterior electrochromic, automatic-dimming Night Vision Safety(TM)(NVS®) automotive rearview mirrors that dim in proportion to the amount of headlight glare from trailing vehicle headlamps, and an extensive line of fire protection products for commercial applications.
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By GlobalDataGentex was the first company in the world to successfully develop and produce a commercial electrochromic mirror for the motor vehicle industry. The Company is the leading supplier of these mirrors to the worldwide automotive industry. Gentex OEM customers include Audi, Bentley, BMW, Daewoo, DaimlerChrysler, Fiat, Ford, General Motors, Hyundai, Infiniti, Kia Motors, Lexus, Mitsubishi, Nissan, Opel, Porsche, Rolls Royce and Toyota. Gentex aftermarket/distributor customers include Gulf States Toyota Distributors, Mito Corporation, Southeast Toyota Distributors, Subaru Distributors NE and Toyota Motor Sales USA.
Founded in 1974, Gentex operates out of four facilities in Zeeland, Michigan; an automotive sales office in Livonia, Michigan; automotive sales and engineering subsidiaries in Germany, Japan, France and the United Kingdom; and four regional U.S. sales offices for the Fire Protection Products Group. The Company is recognized for its quality products, its application of world class manufacturing principles, for its commitment to developing and maintaining a highly skilled workforce, and for encouraging employee ownership of the Company’s stock.
