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Commercial Vehicle Group, Inc. - CVGI STOCK NEWS

Welcome to our dedicated page for Commercial Vehicle Group news (Ticker: CVGI), a resource for investors and traders seeking the latest updates and insights on Commercial Vehicle Group stock.

Commercial Vehicle Group, Inc. (CVGI) is a global leader in the design and manufacturing of cab-related products and systems. Headquartered in New Albany, Ohio, CVGI was founded in 2000 and has grown to serve Original Equipment Manufacturers (OEM) and aftermarket vehicle customers in various sectors including agriculture, construction, heavy trucks, military, and more.

CVGI operates through several key segments: Vehicle Solutions, which focuses on commercial vehicle seats and plastic components; Industrial Automation, which offers warehouse automation subsystems like control panels and cable assemblies; Electrical Systems, which includes cable and harness assemblies for high and low voltage applications; and Aftermarket & Accessories, which provides a range of products for vehicle maintenance and enhancement.

Recent achievements include the appointment of Corinne Ross as President of the Aftermarket & Accessories segment, who brings over 16 years of experience from Freudenberg Sealing Technologies. Under her leadership, CVGI aims to accelerate growth and innovation in this segment. Additionally, CVGI recently sold its FinishTEK business to Rowmark LLC, strategically aligning its focus on core growth areas such as electrical systems.

Financially, CVGI remains robust, with the majority of its revenue generated from the Vehicle Solutions segment. The company continually evaluates its portfolio to ensure strategic fit and investment alignment, ensuring optimal performance and growth prospects.

CVGI's commitment to delivering real solutions for complex design, engineering, and manufacturing challenges is evident in its diverse product offerings, which include cab structures, seating, wire harnesses, mirror systems, and more. The company emphasizes positive change for its customers and the industries it serves, making it a key player in the commercial vehicle industry.

News

Commercial Vehicle Group Completes Sale of FinishTEK Business to Rowmark LLC

Rhea-AI Summary
Commercial Vehicle Group (CVG) sold its FinishTEK business to Rowmark LLC, effective January 31, 2024. FinishTEK, a hydrographic and paint decorator, was part of CVG’s Vehicle Solutions segment serving various industries. The sale aligns with CVG's strategy to drive revenue growth in its electrical systems business and improve margins.
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CVG Announces Election of William C. Johnson to Board of Directors

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Commercial Vehicle Group (CVG) (NASDAQ: CVGI) announced the election of William C. Johnson as an independent director to the Board, effective December 8, 2023. Mr. Johnson, with extensive leadership experience, will serve on the Compensation Committee and the Nominating, Governance and Sustainability Committee of the Board. He brings a wealth of experience from executive roles in various companies, including Avail Infrastructure Solutions, Welbilt, Inc., and Chart Industries, Inc. With a background in Ceramic engineering and a Master of Business Administration, Mr. Johnson's appointment aims to contribute to CVG's strategy to grow shareholder value.
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Commercial Vehicle Group Appoints James Ray as President and Chief Executive Officer

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Commercial Vehicle Group (CVG) (NASDAQ: CVGI) appoints James Ray as the new President and CEO, replacing Interim CEO Robert Griffin. Mr. Ray, an Independent Director on CVG's Board since March 2020, brings extensive global experience in electrical systems and has held leadership roles at Stanley Black & Decker, TE Connectivity, Delphi, and General Motors. The Board expects a smooth leadership transition and anticipates accelerated growth under Mr. Ray's leadership.
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CVG Announces Participation in the NobleCon19 Investor Conference

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CVG (NASDAQ: CVGI) announced that Andy Cheung, EVP and CFO, will present at NobleCon19 - Noble Capital Markets’ Nineteenth Annual Emerging Growth Equity Conference at Florida Atlantic University on December 4 at 12:00 p.m. ET. The webcast and presentation materials will be available on the company's website the next day.
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CVG Announces Participation in the Sidoti Virtual Micro-Cap Investor Conference

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CVG (NASDAQ: CVGI) to Present at Sidoti Micro-Cap Virtual Conference on November 15, 2023
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CVG Reports Third Quarter 2023 Results

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CVG (NASDAQ: CVGI) announced its financial results for Q3 2023. Revenues were $246.7 million, down 1.9% YoY. Operating income was $12.4 million, up 30.5%. Net income and adjusted net income were both $7.3 million, or $0.22 per diluted share. Adjusted EBITDA was $16.6 million, up 16.1%. The majority of new business wins were in the Electrical Systems segment. The company reduced its leverage ratio to 1.5x from 2.7x. CVG continues to execute its strategic long-term plan.
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Corinne Ross Joins Commercial Vehicle Group as President, Aftermarket & Accessories

Rhea-AI Summary
Corinne Ross has been appointed President, Aftermarket & Accessories at Commercial Vehicle Group (CVG). She will oversee CVG's global aftermarket and accessories business segment. Ross brings 16 years of experience from Freudenberg Sealing Technologies and will be responsible for strategic development and execution of business plans.
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CVG Announces Third Quarter 2023 Earnings Call

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Commercial Vehicle Group (CVG) will hold its quarterly conference call on November 2, 2023, to discuss third quarter 2023 financial results.
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CVG Announces Election of Melanie K. Cook to Board of Directors

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Commercial Vehicle Group (CVG) appoints Melanie K. Cook as independent director, bringing extensive experience in various business areas.
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Commercial Vehicle Group (CVG) Announces New Electrical Manufacturing Facility in Tangier, Morocco

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CVG opens new manufacturing facility in Tangier, Morocco, marking its entrance into Africa and strengthening global electrification business growth.
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FAQ

What is the current stock price of Commercial Vehicle Group (CVGI)?

The current stock price of Commercial Vehicle Group (CVGI) is $2.16 as of January 22, 2025.

What is the market cap of Commercial Vehicle Group (CVGI)?

The market cap of Commercial Vehicle Group (CVGI) is approximately 75.7M.

What does Commercial Vehicle Group, Inc. (CVGI) specialize in?

CVGI specializes in designing and manufacturing cab-related products and systems for various vehicle sectors including agriculture, construction, and heavy trucks.

Where is Commercial Vehicle Group, Inc. located?

CVGI is headquartered in New Albany, Ohio, USA.

Who is the new President of Aftermarket & Accessories at CVGI?

Corinne Ross was recently appointed as the President of the Aftermarket & Accessories segment at CVGI.

Which segments does CVGI operate in?

CVGI operates in Vehicle Solutions, Industrial Automation, Electrical Systems, and Aftermarket & Accessories segments.

What recent strategic move did CVGI make?

CVGI recently sold its FinishTEK business to Rowmark LLC to focus more on its core growth areas like electrical systems.

How does CVGI contribute to the commercial vehicle industry?

CVGI provides a wide range of products including cab structures, seating, wire harnesses, and mirror systems, addressing complex engineering and manufacturing challenges.

When was Commercial Vehicle Group, Inc. founded?

CVGI was founded in the year 2000.

How does CVGI ensure financial growth?

CVGI continually evaluates its portfolio to ensure strategic fit and investment alignment, primarily focusing on high-revenue segments like Vehicle Solutions.

What is the primary revenue-generating segment for CVGI?

The Vehicle Solutions segment is the primary revenue-generating division for CVGI.

How can I contact CVGI for investor relations?

You can contact CVGI for investor relations through Ross Collins or Stephen Poe at CVGI@alpha-ir.com.
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Commercial Vehicle Group, Inc.

Nasdaq:CVGI

CVGI Rankings

#4655 Ranked by Market Cap
N/A Ranked by Dividends

CVGI Stock Data

75.73M
31.63M
7.29%
74.35%
2.22%
Auto Parts
Motor Vehicle Parts & Accessories
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United States of America
NEW ALBANY