---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-237293"
form_type: "8-K"
ticker: "THRM"
cik: "0000903129"
company_name: "Gentherm Inc"
filed_at: "2023-09-19T23:59:59+00:00"
generated_at: "2026-06-10T14:19:04.314430+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Gentherm approves restructuring to move Greenville, SC manufacturing to Monterrey, Mexico

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-237293
- form_type: 8-K
- ticker: THRM
- cik: 0000903129
- company_name: Gentherm Inc
- filed_at: 2023-09-19T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/903129/000119312523237293/0001193125-23-237293-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/903129/000119312523237293/d555827d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-237293
- JSON: https://secwatch.observer/filing/0001193125-23-237293.json
- Plain text: https://secwatch.observer/filing/0001193125-23-237293.txt

## Key facts
- Restructurings & Charges
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/903129/000119312523237293/0001193125-23-237293-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.