Gentherm Inc (THRM): restructuring charge — Gentherm approves restructuring to move Greenville, SC manufacturing to Monterrey, Mexico

Gentherm Inc

Restructuring costs estimated at $14M-$18M ($14M-$17M cash); annual benefits of $5M-$6M expected.
Includes $2M-$4M severance, $7M-$8M capex, ~$1M depreciation, and $4M-$5M transition costs.
Manufacturing relocated from Greenville, SC to new facility in Monterrey, Mexico; completion by end of 2025.
Plan aims to lower cost base, improve financial performance and cash flow, and simplify organization.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Gentherm Inc announced a restructuring with charges of between $14 million and $18 million affecting Greenville, South Carolina facility; Monterrey, Mexico.

Type: restructuring
Charge: between $14 million and $18 million
Affected area: Greenville, South Carolina facility; Monterrey, Mexico

Exact text from the filing

organization best positioned to deliver on its key financial and operational priorities. In connection with the Plan, the Company expects to incur total costs of between $14 million and $18 million, of which between $14 million and $17 million are expected to be cash expenditures. The total expected costs include employee severance, retention and termination

View on SEC.gov

Browse all restructurings & charges →

Gentherm Inc filing history →

Source: SEC EDGAR

accession 0001193125-23-237293

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.