Rassini’s net income up 19% in second quarter
Mexican auto supplier Rassini reported a sales increase of 12% in the second quarter, totaling $ 4,489 million Mexican pesos, around US$ 249.4 million under current exchange rate. For the first half of 2017 the company’s sales climbed to $ 9,369 million Mexican pesos or US$ 520.5 million, a 20% hike compared to the result from the first half of 2016, according to its unaudited results.
Rassini’s earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $853 million pesos or US$ 47.4 million in the second quarter and $1,851 million pesos or US$ 102.8 million for the first half of 2017.
The company’s net income totaled $419 million pesos or US$ 23.3 million in the second quarter, up 19%. For the first half of 2017 Rassini posted a net income of $876 million pesos, around US$ 48.6 million, up 3% compared to the same period of the previous year.
Rassini, S.A.B. de C.V is the world’s largest producer of suspension components for light commercial vehicles as well as the largest fully integrated brakes disc producer in the Americas and has eight manufacturing sites strategically located in Mexico, the US and Brazil, as well as four tech centers located in the same countries.
Suspension products include leaf springs (parabolic and multi-leaf) for light and commercial trucks, coil springs and bushings. The brakes business manufactures rotors, drums, brake assemblies, clutch plates and motor balancers.
Its customer base includes: General Motors, Ford Motor Co., FCA, Nissan, Volkswagen, Toyota, MAN, Scania, Maserati, Mercedes Benz and Daimler among others.
– Mexican manufacturer Rassini to supply brakes for sixth-generation Ford Mustang
– Higher sales boost Rassini’s earnings 28% during first quarter