Nemak, S.A.B. de C.V., known as Nemak, is a global automotive parts manufacturing company headquartered in García, Nuevo León, a municipality next to the City of Monterrey, Nuevo León, México. The company manufactures a wide range of automotive parts and systems with primary focus on aluminum auto parts, mainly engine blocks, cylinder heads, and transmission components. It is a Tier 1 supplier to major OEMs and is among the 60 largest auto industry suppliers worldwide.[1]
In 2012, the company acquired Wisconsin-based J.L. French Automotive Castings for $215 million.[2][3]
Nemak is a subsidiary of the Mexican industrial conglomerate Alfa, which holds 75.24% of Nemak shares, while Ford Motor Co. holds 5.45% of the shares and the remaining 19.31% are public shares offered in the BMV.[7]
In early 2015, Nemak´s parent company, Alfa, announced it may hold an initial public offering to list Nemak in the Mexican Stock Exchange as soon as June, as a strong U.S. dollar boosts the value of the division’s assets.[8]
In 2021, Nemak was awarded a contract with Tesla and expanded its manufacturing facilities in Sheboygan, Wisconsin.[9][10] The company had previously turned down a request from Tesla in 2018.[11]