Stoneridge has provided high-quality components for vehicles for more than 40 years. From our beginning as a contract manufacturer for a single customer, we have evolved to become a worldwide technology leader in our industry. Acquisitions and internal growth have driven our expansion into more diverse product lines and geographic markets.
Following are some of the highlights of the Company’s progress:
1965 – Company founded in Warren, Ohio, by D.M. Draime, as a one-customer, contract manufacturing business serving the automotive market. Draime remained Chairman of the Company’s Board of Directors until his death in 2006.
1988 – Stoneridge acquires the Joseph Pollak Corporation, a manufacturer of electronic and electromechanical switch products in Boston, Massachusetts. Pollak, established in 1909, traces its automotive roots to supplying 2-pole connectors to Ford Motor Company on the Model T.
1992 – Stoneridge acquires the Transportation Electronics Division of General Instruments, a manufacturer of power conversion modules and sophisticated instrumentation components. Located in El Paso, Texas and Juarez, Mexico, this acquisition was the starting point for our electronics business.
1995 – Stoneridge acquires the power door lock actuator business unit from Kelsey-Hayes. The business is relocated from Brighton, Michigan to Boston, Massachusetts and merged with the existing four-wheel drive actuator and fuel valve production within the Pollak division.
1996 – Seeking to leverage our capabilities and diversify our OEM customer base, Stoneridge acquires approximately 45% of Berifors AB (“Berifors”), a Sweden-based manufacturer of electronic display panels and instrumentation for the European truck and commercial vehicle markets.
1997 – Stoneridge completes its IPO on the New York Stock Exchange, ticker SRI. Stoneridge acquires the remaining 55% of Berifors (later renamed Stoneridge Electronics) in Sweden, which solidly establishes our European presence in vehicle electronics, and enters into a 50% joint venture agreement with PST Amazônia S.A. in Brazil, which provides us with a platform to expand further into the South American market.
1998 – Company acquires Hi-Stat Manufacturing Co., Inc., with plants in Lexington, Ohio and Sarasota, Florida. This leading supplier of vehicle sensor and switch products was the largest acquisition in Stoneridge’s history and it enabled us to “close the loop” in terms of our electrical systems capabilities.
1999 – Stoneridge acquires assets from a division of Delta Schoeller Limited. (later renamed Stoneridge Pollak Limited), based in the United Kingdom, to grow the Company’s presence in European markets for switch, actuator and sensor products. Stoneridge acquires TVI Europe, Ltd. (later renamed Stoneridge Electronics Limited), based in Dundee, Scotland, providing the Company with products, expertise and customer base expansion in the area of transport monitoring devices for commercial vehicles.
2004 – A joint venture was established with Minda Group, one of India’s major automotive suppliers, based in New Delhi, India. This joint venture meets the growing market for electronic instrumentation and vehicle information management systems in Asia.
A new representative office was opened in Shanghai, China, to manage existing supplier base and to help secure new low-cost supply sources of components for use in our manufacturing operations.
2005 – The Company established a new subsidiary in Suzhou, China, for the manufacture of sensors, switches, electronic instrumentation and other related electromechanical products for the automotive and commercial vehicle markets.
2009 – Stoneridge acquires a 51% equity interest in Bolton Conductive Systems LLC (“BCS”), an electrical system supplier based in Walled Lake, Michigan. BCS designs and manufactures a wide variety of electrical solutions for the military, automotive, marine, and specialty vehicle markets.
2011 – Stoneridge acquires an additional 24% ownership of PST Eletrônica S.A. (“PST”, formerly known as PST Industria Eletronica da Amazonia Limitada), a Brazil-based electronic system provider focused on security, infotainment and accessories primarily for the automotive and motorcycle markets. At the conclusion of the transaction, Stoneridge’s ownership interest in PST increased from 50% to 74%.
2014 – Stoneridge acquires ownership of Motometer GmbHB, a Germany-based distributor of tachographs, accessories and the Motodrive analysis software. Founded in 1912, MotoMeter is a well-recognized brand within the German commercial vehicle market.
Stoneridge sells its Wiring Business to Motherson Sumi Systems Ltd. to focus resources on our technology-driven business segments.