STRATTEC SECURITY CORPORATION Further Advances Strategy to Deliver Improved Performance

Business Wire12-11

Looking to upgrade and modernize operations while evaluating footprint MILWAUKEE, December 10, 2024--(BUSINESS WIRE)--STRATTEC SECURITY CORPORATION (Nasdaq: STRT) ("STRATTEC" or "Company"), a leading ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2490602248?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-11 06:09","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2490602248","market":"us","top_or_hot":-1,"title":"STRATTEC SECURITY CORPORATION Further Advances Strategy to Deliver Improved Performance","media":"Business Wire","content":"<div>\n<p>Looking to upgrade and modernize operations while evaluating footprint\nMILWAUKEE, December 10, 2024--(BUSINESS WIRE)--STRATTEC SECURITY CORPORATION (Nasdaq: STRT) (\"STRATTEC\" or \"Company\"), a leading ...</p>\n\n<a href=\"https://finance.yahoo.com/news/strattec-security-corporation-further-advances-220900146.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>STRATTEC SECURITY CORPORATION Further Advances Strategy to Deliver Improved Performance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSTRATTEC SECURITY CORPORATION Further Advances Strategy to Deliver Improved Performance\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-11 06:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/strattec-security-corporation-further-advances-220900146.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Looking to upgrade and modernize operations while evaluating footprint\nMILWAUKEE, December 10, 2024--(BUSINESS WIRE)--STRATTEC SECURITY CORPORATION (Nasdaq: STRT) (\"STRATTEC\" or \"Company\"), a leading ...</p>\n\n<a href=\"https://finance.yahoo.com/news/strattec-security-corporation-further-advances-220900146.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4511","symbol_name":"特斯拉概念","start_time":0,"source_url":"https://finance.yahoo.com/news/strattec-security-corporation-further-advances-220900146.html","article_id":"2490602248","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490602248","pubTimestamp":1733868540,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Looking to upgrade and modernize operations while evaluating footprint. MILWAUKEE, December 10, 2024----STRATTEC SECURITY CORPORATION  , a leading provider of smart vehicle power access, security & authorization solutions for the global automotive industry, today announced that it will be listing its Milwaukee facility on the market for sale to inform its evaluation of opportunities for upgraded and modernized operations. The evaluation will include identifying the best operational space for manufacturing and also office accommodations for the corporate offices, both ideally in the Milwaukee area assuming economics allow.In addition, given improving productivity and operational performance, STRATTEC plans to reduce manufacturing from a three-shift operation to two-shifts in the first quarter of 2025 at its Milwaukee location. This will result in the elimination of approximately 20 direct labor roles. Changes will also include moving to a 10-hour, 4-day work week from the standard 8-hou","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4511":"特斯拉概念","BK4124":"机动车零配件与设备","STRT":"Strattec Security Corporation"},"translate_title":"STRATTEC SECURITY CORPORATION进一步推进战略以提高性能","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"STRT":1},"content_text":"Looking to upgrade and modernize operations while evaluating footprint\nMILWAUKEE, December 10, 2024--(BUSINESS WIRE)--STRATTEC SECURITY CORPORATION (Nasdaq: STRT) (\"STRATTEC\" or \"Company\"), a leading provider of smart vehicle power access, security & authorization solutions for the global automotive industry, today announced that it will be listing its Milwaukee facility on the market for sale to inform its evaluation of opportunities for upgraded and modernized operations. The evaluation will include identifying the best operational space for manufacturing and also office accommodations for the corporate offices, both ideally in the Milwaukee area assuming economics allow.\nIn addition, given improving productivity and operational performance, STRATTEC plans to reduce manufacturing from a three-shift operation to two-shifts in the first quarter of 2025 at its Milwaukee location. This will result in the elimination of approximately 20 direct labor roles. Changes will also include moving to a 10-hour, 4-day work week from the standard 8-hour, 5-day schedule. The manufacturing team was interested in this change which provides a more flexible work week for them.\nJennifer Slater, President and CEO, noted, \"These are exciting times at STRATTEC as we look to upgrade and modernize our operations while providing our team members a more flexible workweek. While in the early stages of evaluation, streamlining how we work is a high priority and we are evaluating how to better utilize our footprint, improve our office and manufacturing facilities and provide an enhanced work environment for our team. Importantly, we continue to have sufficient capacity to continue to provide our customers the high-quality products they have grown to expect and to deliver them on time to meet their schedules. I am proud of the progress everyone at STRATTEC has made and see a building energy in the team to deliver on the changes needed to drive a strong, sustainable future.\"\nThe Company expects the facility evaluation process to take several months to complete.\nAbout STRATTEC\nSTRATTEC is a leading global provider of advanced automotive access, security & authorization and select user interface solutions. With a history spanning over 110 years, STRATTEC has consistently been at the forefront of innovation in vehicle security, transitioning from mechanical to integrated electro-mechanical systems. The Company serves a broad range of customers, including leading automotive OEMs, offering power access solutions and advanced security systems that include door handles, lift gates, latches, and key fobs.\nFor more information on STRATTEC and its solutions, visit www.strattec.com.\nSafe Harbor Statement\nCertain statements contained in this release contain \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as \"anticipate,\" \"believe,\" \"could,\" \"expect,\" \"intend,\" \"may,\" \"planned,\" \"potential,\" \"should,\" \"will,\" and \"would\" and include all statements with regard to the Company’s transformation and strategy to improve performance, and the impact of new facilities on operational performance, the location of new operations and offices, and underlying earnings potential. Such forward-looking statements are inherently subject to many uncertainties in the Company’s operations and business environment. These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company’s and its customers’ products, competitive and technological developments, customer purchasing actions, changes in warranty provisions and customer product recall policies, work stoppages at the Company or at the location of its key customers as a result of labor disputes, foreign currency fluctuations, uncertainties stemming from U.S. trade policies, tariffs and reactions to same from foreign countries, the volume and scope of product returns, matters adversely impacting the timing and availability of component parts and raw materials needed for the production of our products and the products of our customers and fluctuations in our costs of operation (including fluctuations in the cost of raw materials). Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this release. In addition, such uncertainties and other operational matters are discussed further in the Company’s quarterly and annual filings with the Securities and Exchange Commission.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241210618285/en/\nContacts\nInvestors: Deborah K. PawlowskiAlliance Advisors IRPhone: 716-843-3908Email: dpawlowski@allianceadvisors.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2490602248"}