About Stoneridge

Stoneridge, Inc. operates as a global designer and manufacturer of highly engineered electrical and electronic systems, components and modules for the automotive, commercial, off-highway and agricultural vehicle markets. The company’s products and systems are critical elements in the management of systems to improve overall vehicle performance, convenience and monitoring in areas, such as safety and security, intelligence, efficiency and emissions. The company’s worldwide footprint is primarily consisted of 21 locations in 11 countries and enables the company to supply global automotive, commercial, 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, driver information systems, vision and safety systems, connectivity and compliance products, electronic control units, vehicle tracking devices and monitoring services, vehicle security alarms and convenience accessories, in-vehicle audio and infotainment devices and telematics solutions. The company supplies the majority of its products, predominantly on a sole-source basis, to many of the world’s leading automotive and commercial vehicle original equipment manufacturers (‘OEMs’) and select non-vehicle OEMs, as well as certain automotive and commercial vehicle Tier 1 suppliers. Segments and Products The company operates through three 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, front-axle disconnect and shift by wire products. Sensor products are employed in major vehicle systems, such as the emissions, safety, powertrain, braking, climate control, steering and suspension systems; and are 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 driver information systems, vision and safety systems, connectivity and compliance products and electronic control units. Driver information systems 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 and safety products provide enhanced vehicle visibility and safety to drivers. Electronic control units regulate, coordinate, monitor and direct the operation of the electrical system within a vehicle. These products are sold principally to the commercial vehicle market through both the OEM and aftermarket channels. In addition, vision and safety systems are sold to the off-highway and commercial vehicle markets. Stoneridge Brazil The company’s Stoneridge Brazil (‘SRB’) segment primarily serves the South American market and specializes in the design, manufacture and sale of vehicle tracking devices and monitoring services, vehicle security alarms and convenience accessories, in-vehicle audio and infotainment devices, driver information systems and telematics solutions primarily for the automotive market. This segment includes product lines, such as vehicle monitoring and tracking devices, security alarms, convenience applications, such as parking sensors and rearview cameras, audio and infotainment systems and telematics products used for fleet management. 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, to factory authorized dealer installers, also referred to as original equipment services, direct to OEMs and through mass merchandisers. 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 and mass merchandisers, 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 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 2022). Research and Development Activities The company incurred and was reimbursed for contracted research and development costs of $23,784 for the year ended December 31, 2022. History Stoneridge, Inc. was founded in 1965. The company was incorporated in 1988.