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5. Strattec Security Corporation Business Report FY ended Jun. 2015

Strattec Security Corporation Business Report FY ended Jun. 2015

Factors
1) FCA
-In the fiscal year ended June 28, 2015, sales to FCA decreased by 0.5% from the previous fiscal year to USD 116.9 million. The primary reason behind this decrease in sales came from FCA's temporary shutdown of its plant in Windsor, Canada from February 2015 through May 2015. This decrease in sales was mostly offset by increased sales for higher production volume models and increased content on other vehicle models.

2) GM
-Sales to GM in the fiscal year ended June 28, 2015 increased by 33.1% over the previous fiscal year to USD 105.8 million. The increase in sales came from increased service parts sales during the first half of the fiscal year related to a recall campaign. Higher production volumes and increased content on specific vehicle models also contributed to the increase in sales. These gains were partially offset by a USD 3.3 million concession granted to GM.

3) Ford
-Sales to Ford were USD 45.5 million in the fiscal year ended June 28, 2015, a decrease of 2.4% from the previous year. Lower production volumes on various models the Company supplies components for, specifically the Ford "F-150", led to the decrease in sales. This was partially offset by increased sales of latches and increased content on other vehicle models.

4) Hyundai-Kia
-In the fiscal year ended June 28, 2015, sales to Hyundai-Kia increased by USD 23.1 million to USD 30.3 million, primarily due to the production ramp-up of the new Kia "Sedona" minivan.

Major Contracts <Model Year 2016>

Joint Venture

-The Company announced that its VAST LLC joint venture, which includes WITTE Automotive of Germany and ADAC Automotive of the U.S., has completed an agreement to become a 50:50 joint venture partner with Minda Management Services Limited. VAST acquired a 50% equity interest in the former Minda-Valeo Security Systems joint venture entity, based in Pune, India for approximately USD 12 million. This joint venture entity will be renamed Minda-VAST Access Systems. Minda-VAST will have operations in Pune and Delhi and is expected to have approximate annual sales in excess of USD 40 million. (From a press release on April 30, 2015)

Awards

-The Company received the 2014 Supplier of the Year award from Ford Rotunda, a part of the Ford Customer Service Division. (From a press release on October 23, 2014)

R&D Activities

-The Company's recent research and development activities have focused on expanding vehicle access options through electronic interlocks and various methods of communicating authorization data between consumers and vehicles.

Investment in U.S.

-The Company spent USD 4.5 million for a new facility in Auburn Hills, Michigan, U.S. The new facility is used as a sales and engineering office and replaces two leased facilities that were also located in Michigan.

Investment outside U.S.

<Mexico>
-During the fiscal year ended June 2015, the Company purchased a plant in Juarez, Mexico for USD 2.1 million. The new facility is the Company's third manufacturing plant in Mexico and houses assembly operations for latches and power access products.

Data

Number of Employees

>>>Financial Data