Nexteer on Crest of Expected Wave of Chinese Auto Investment
As a pioneer on the frontier of Chinese automotive investment in the U.S., Laurent Bresson knows the world is watching his every move, and he's OK with that. Bresson, 42, is a Frenchmen running a global automotive supplier in Saginaw that is controlled by Chinese investors.
Since it was acquired more than two years ago, Nexteer has won new contracts with U.S. automotive manufacturers for its steering systems and launched a successful initial public offering on the Hong Kong Stock Exchange. It also added about 1,150 workers at its plants in Saginaw and invested about $300 million there. That makes Nexteer a prime example of Chinese investor success in the U.S. automotive industry as dozens, if not hundreds, of other Chinese auto suppliers and investors explore opportunities to invest in the U.S. and Michigan automotive industries.
The Chinese government is encouraging its manufacturers to expand globally. Nexteer -- a former unit of Delphi acquired by Pacific Century Motorsin 2010 -- is known as the largest and highest-profile acquisition of a U.S. auto supplier by Chinese investors. "The Nexteer story is followed really closely -- extremely closely, I would say, by every stakeholder, by the community, by the Chinese government for sure, the potential Chinese investors -- whether public or private -- everybody is watching this closely," Bresson said.
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