Mexican auto supplier Nemak said Thursday that its revenue and net income were slashed in the fourth quarter, largely as a result of the UAW strike at General Motors.
The powertrain and body structure components supplier said that total revenue for the quarter was down 13 percent to $941 million.
Net income fell 18 percent to $31 million, and fourth-quarter earnings before interest, taxes and other adjustments dropped 22 percent to $133 million, the company said in a statement.
Nemak rapidly faced challenges in North America at the end of last year as a result of the strike, which extended from the latter part of the third quarter into the fourth.
In the fourth quarter in North America, revenue was down 19 percent and EBITDA declined by 26 percent, Nemak reported.
The company said lower volumes in North America were a result of “the impact of the General Motors strike in the U.S., the phase-out of production of certain light-vehicle models among Detroit 3 customers throughout the…