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Nemak, S.A.B. de C.V., known as Nemak, is a global automotive parts manufacturing company headquartered in García, Nuevo León, a municipality next to the City of Monterrey, Nuevo León, México. The company manufactures a wide range of automotive parts and systems with primary focus on aluminum auto parts, mainly engine blocks, cylinder heads, and transmission components. It is a Tier 1 supplier to major OEMs and is among the 60 largest auto industry suppliers worldwide.[1]

Key Information

In 2012, the company acquired Wisconsin-based J.L. French Automotive Castings for $215 million.[2][3]

Nemak reported sales of $4.3 billion for 2016[4] and has more than 36 manufacturing plants that employ more than 21,000 people in 16 countries.[5] It has more than 110 patents and conducts R&D in 5 centers. More than 90% of the sales volume was supplied to the 8 largest automotive manufacturers: Ford, General Motors, Fiat-Chrysler, Volkswagen Group, Hyundai-Kia, BMW, Renault-Nissan and Daimler-Benz.[6] Its installed capacity is mainly in North America, where the company has 10 plants in Mexico, 6 in the United States, and 1 in Canada. The remaining plants are located in Europe, in Austria, Czech Republic, Germany, Hungary, Russia, Slovakia, Spain, and Poland; in South America, in Argentina and Brazil; and in Asia, in China and India.

Nemak is a subsidiary of the Mexican industrial conglomerate Alfa, which holds 75.24% of Nemak shares, while Ford Motor Co. holds 5.45% of the shares and the remaining 19.31% are public shares offered in the BMV.[7]

In early 2015, Nemak´s parent company, Alfa, announced it may hold an initial public offering to list Nemak in the Mexican Stock Exchange as soon as June, as a strong U.S. dollar boosts the value of the division’s assets.[8]

In 2021, Nemak was awarded a contract with Tesla and expanded its manufacturing facilities in Sheboygan, Wisconsin.[9][10] The company had previously turned down a request from Tesla in 2018.[11]

References

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Nemak

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Nemak, S.A.B. de C.V. is a Mexican multinational automotive manufacturing company specializing in the development and production of innovative lightweight aluminum components for the global automotive industry. Founded in 1979 and headquartered in García, Nuevo León, Mexico, Nemak employs approximately 23,000 people as of 2024 and operates as a publicly traded entity on the Mexican Stock Exchange following its initial public offering in 2015. The company's core business focuses on high-pressure die casting of complex aluminum parts for powertrain, e-mobility, and structural applications, including cylinder heads, engine blocks, transmission cases, subframes, shock towers, e-motor housings, and battery enclosures. These products support lightweighting solutions that enhance fuel efficiency, reduce emissions, and enable electric vehicle adoption among major original equipment manufacturers (OEMs) such as Ford, General Motors, Volkswagen, and BMW. Nemak's operations span 40 facilities across North America, Europe, Asia, and other regions, with a 2024 production volume of 39.5 million equivalent units, reflecting its position as one of the world's largest aluminum automotive casting suppliers. Historically, Nemak originated as part of the Alfa conglomerate and expanded from cylinder heads in the 1970s to engine blocks in the 1990s and structural components starting in 2014; it achieved independence in September 2021 through a merger with Controladora Nemak. Under CEO Armando Tamez, the company has pursued strategic growth, including the acquisition announced in 2025 of the automotive business from Swiss-based GF Casting Solutions, expected to close in the second half of 2025, to bolster its e-mobility and powertrain capabilities. This positions Nemak as a key innovator in sustainable automotive manufacturing amid the industry's shift toward electrification and reduced carbon footprints.

History

Founding and early development

Nemak, S.A.B. de C.V. was founded in 1979 in Nuevo León, Mexico, as a joint venture between the Mexican conglomerate Grupo Alfa (60% stake), Ford Motor Company (20%), and Teksid (20%). This collaboration combined Alfa's industrial expertise with Ford's and Teksid's automotive technology to establish a local supplier base for aluminum components. From its inception, Nemak concentrated on aluminum die-casting for automotive parts, beginning with the production of cylinder heads to serve local Mexican automakers amid the country's expanding vehicle assembly sector in the late 1970s. The company's early operations emphasized high-pressure die-casting techniques to create lightweight, durable engine components, addressing the need for cost-effective manufacturing in emerging markets. By initiating production shortly after founding, Nemak quickly positioned itself as a key player in Mexico's auto parts ecosystem. In the 1980s, Nemak's joint venture with Ford and Teksid facilitated its entry into international markets, as the partnership enabled technology transfer and initial supply contracts beyond Mexico. A significant early milestone came with securing a contract to manufacture cylinder heads for Opel, General Motors' European division, which marked Nemak's first major export-oriented achievement and spurred rapid growth in output during the decade. This period solidified Nemak's foundational role in aluminum casting, with exports of cylinder heads increasing notably amid Mexico's economic challenges, including the 1982 debt crisis.

Expansion and key milestones

During the 1990s, Nemak expanded its operations beyond Mexico into North America to better serve major OEMs, including beginning production of engine blocks, and opening its first U.S. facility in Glasgow, Kentucky, in 1993 to produce high-pressure die-cast aluminum castings primarily for General Motors vehicles. This plant, located in Barren County, marked the company's initial foray into U.S. manufacturing and supported growing demand for lightweight aluminum components in the automotive sector. In the 2000s, Nemak accelerated its global growth through targeted acquisitions and expansions to strengthen its presence in key markets. In 2000, as part of the Ford-Nemak joint venture established in 1979, Nemak assumed majority ownership of Ford's Windsor Aluminum Plant and Essex Aluminum Plant in Windsor, Ontario, Canada. A pivotal move was the 2005 acquisition of Rautenbach-Aluminium-Technologie GmbH, a German firm specializing in aluminum cylinder heads, which provided Nemak with manufacturing plants in Wernigerode, Germany, and Ziar, Slovakia, facilitating entry into the European automotive supply chain. This deal enhanced Nemak's technological capabilities and customer base among European OEMs like Hyundai-Kia. Nemak also extended its reach into Asia during this period, announcing plans in April 2006 to establish a production facility in China and subsequently acquiring TK Aluminum Ltd.'s assets, including a plant in Nanjing completed in June 2007, to support local manufacturing for Asian OEMs such as Changan Ford. These efforts, combined with further acquisitions like Norsk Hydro's European aluminum castings operations in November 2006, solidified Nemak's international footprint by the late 2000s. A landmark achievement occurred in 2015 when Nemak conducted its initial public offering on the Mexican Stock Exchange (BMV), selling 537.6 million new shares and raising approximately $682 million in proceeds to finance expanded global investments and capacity enhancements. This IPO, one of Mexico's largest since 2013, transitioned Nemak toward greater financial independence while underscoring its maturity as a multinational supplier.

Recent developments

In response to the COVID-19 pandemic in 2020, Nemak implemented temporary shutdowns across its global operations to prioritize employee safety and comply with industry-wide production halts. For example, its Dickson, Tennessee facility closed in March 2020 after an employee tested positive, while broader shutdowns lasted approximately eight weeks amid weakened automotive demand. Production resumed gradually in late May 2020, with volumes ramping up to near pre-pandemic levels by quarter's end, supported by enhanced safety protocols like temperature screenings at North American plants. By 2022, Nemak shifted focus toward electrification, announcing contracts valued at US$350 million annually in February to supply battery housings for fully electric vehicles from global automakers. These awards expanded the company's electric vehicle, structure, and chassis (EV/SC) order book to US$1.4 billion, with capital expenditures of US$111 million in the third quarter directed toward EV-related launches, including e-motor components. Nemak intensified sustainability efforts in 2023, advancing toward carbon neutrality by 2050 through Science Based Targets initiative-approved goals to cut Scope 1 and 2 greenhouse gas emissions by 28% and Scope 3 by 14% by 2030. The company also adopted the Aluminum Stewardship Initiative standards and increased use of recycled aluminum in production to minimize waste and support circular economy principles. In September 2021, Nemak completed its merger with Controladora Nemak, S.A.B. de C.V., achieving full independence from Grupo Alfa following the 2020 spin-off of Alfa's stake. From 2024 to 2025, Nemak pursued key expansions. In July 2025, the company agreed to acquire GF Casting Solutions' automotive business, enhancing its capabilities in lightweight components for electric vehicles. Additionally, Nemak opened a new facility in the Czech Republic to produce components for electric vehicles, while postponing planned sites in Mexico and Germany amid market adjustments.

Operations

Manufacturing processes

Nemak's core manufacturing process is high-pressure die-casting (HPDC), a technique that enables the production of complex, lightweight aluminum components with thin walls and high productivity. The process begins with the melting of aluminum alloys in a furnace to achieve a molten state suitable for injection, typically at temperatures around 650–700°C to ensure fluidity. This is followed by the preparation of the steel die, which is coated with a release agent and clamped shut. The molten metal is then injected into the die cavity at high velocities exceeding 30 m/s under pressures of 10,000 to 20,000 psi, filling the mold rapidly to minimize air entrapment and promote uniform solidification. Once injected, the metal cools and solidifies within the die, controlled by water-cooled channels to achieve precise thermal gradients and reduce residual stresses. The solidified casting is ejected using pins or plates, followed by trimming of excess material such as gates and flash. Final machining operations, including CNC milling and drilling, refine surface finishes and ensure dimensional tolerances, often integrating robotic arms for precision handling. This sequence allows Nemak to produce components like engine blocks and structural parts efficiently, with cycle times as short as 30–60 seconds per part. Nemak primarily employs aluminum-silicon (Al-Si) alloys, such as those with additions of copper (Al-Si-Cu), for their excellent castability, corrosion resistance, and mechanical properties in automotive applications. These alloys, often modified with elements like magnesium for enhanced strength, are selected to balance fluidity during casting and performance under load. To further improve strength and ductility, components undergo T6 heat treatment, involving solution annealing at 500–540°C to dissolve precipitates, rapid quenching to retain supersaturated solid solution, and artificial aging at 150–200°C to form strengthening phases like Mg2Si or Al2Cu. This process enhances tensile strength by up to 20–30% while maintaining elongation, critical for high-performance engine parts. Advanced technologies are integral to Nemak's operations, including robotic automation for tasks like part handling, deburring, and assembly to boost efficiency and reduce labor variability. For instance, 3D robot vision systems enable adaptive picking and placement, minimizing downtime and improving throughput by 15–20% in production lines. Simulation software, such as MAGMASOFT or similar tools, is used to model mold filling, solidification, and thermal flows, predicting and mitigating defects like porosity or shrinkage before physical trials. This virtual optimization reduces scrap rates by identifying optimal gating and venting designs, supporting Nemak's die-casting simulations for various processes. Quality control at Nemak adheres to the IATF 16949 standard, certified across all facilities, ensuring robust process monitoring and defect prevention in line with automotive requirements. In-line testing employs X-ray radiography and ultrasonic methods to detect internal porosity, while coordinate measuring machines verify dimensional accuracy to tolerances of ±0.05 mm. These measures, combined with statistical process control, maintain defect rates below 1%, supporting consistent output for high-volume production.

Global facilities and workforce

Nemak is headquartered in García, Nuevo León, Mexico (near Monterrey), serving as the central hub for its global operations. As of 2024, the company employs approximately 23,000 people worldwide, supporting its extensive manufacturing network. The company's global footprint includes 40 manufacturing plants strategically distributed across 14 countries in key regions. In North America, Nemak operates numerous facilities, including approximately 10 plants in Mexico (such as those in Nuevo León and Coahuila), six in the United States, and one in Canada, forming the core of its production base. Europe hosts plants in countries like Germany, the United Kingdom, Spain, the Czech Republic, and Hungary, while Asia includes sites in China, India, and Thailand. South America features operations in Brazil and Argentina, enabling proximity to regional automotive markets. As of November 2025, the acquisition of GF Casting Solutions' automotive business, announced in July 2025, remains pending and is expected to close by year-end, subject to regulatory approvals; this would add nine production facilities and enter a 15th country (such as Poland), along with approximately 2,500 employees. Nemak's workforce emphasizes skilled engineers and technicians, bolstered by comprehensive training programs that foster expertise in aluminum casting and lightweighting technologies. The company invests in professional development, including a dedicated mentoring program for female talent to address unique career challenges and promote growth. Diversity initiatives are central to its strategy, with commitments to achieve equal pay for equal value by 2030 and equal representation, participation, and leadership across all management levels by 2030. Nemak's production capacity surpasses 50 million components annually, underscoring its scale in the automotive sector. Major facilities, such as the plant in Apodaca, Mexico—located near headquarters—play a pivotal role, producing millions of cylinder heads each year to meet global demand for powertrain parts.

Supply chain and sustainability

Nemak's supply chain emphasizes strategic partnerships with aluminum suppliers to ensure high-quality, sustainable raw materials. For instance, the company collaborates with Hydro to develop low-carbon aluminum casting products for automotive applications, aiming to reduce the carbon footprint of its components. Nemak sources alloys, scrap, and production materials from a network of vetted suppliers, screening 100% of new ones using EcoVadis for environmental and social criteria. In 2024, 266 suppliers were assessed for environmental impacts, with corrective actions implemented for those showing significant negative effects. The company relies on just-in-time delivery to major original equipment manufacturers (OEMs), including Ford, General Motors, Volkswagen Group, and Stellantis, enabling efficient logistics and minimized inventory holding. These OEMs represent a substantial portion of Nemak's revenue, with North American clients accounting for 54% and European for 34% in recent years. Operating across global facilities in key markets like Mexico, the United States, Europe, and Asia, Nemak's supply chain supports localized production to reduce transportation emissions. To manage risks, Nemak has diversified its supply chain following disruptions like the 2021 semiconductor shortages, which affected the automotive sector broadly. The company conducts risk-based due diligence across operations and suppliers, including human rights reviews in 30% of its sites in 2024, with no identified issues related to forced labor or child labor. Localization strategies include expansions in China, such as a $13.9 million investment in Nanjing for new energy vehicle components, and evaluations of shifting production to the U.S. amid potential tariffs. Nemak prioritizes sustainability through resource efficiency and emissions reduction. In 2024, 66% of its total materials—approximately 678,756 tons—were recycled aluminum, contributing to circularity in the automotive supply chain. The company recycles cooling water in closed-loop systems at its plants to conserve resources, with no major discharges into local water bodies. Nemak tracks Scope 3 emissions comprehensively, reporting 3,552,801 tons CO2e in 2024 primarily from purchased goods, and has committed to a 14% absolute reduction by 2030 from a 2019 baseline. All Nemak facilities are certified under IATF 16949, the automotive industry standard for quality management, ensuring consistent performance in supply chain operations. Additionally, 100% of operational sites undergo environmental risk assessments aligned with ISO 14001 standards, supporting proactive management of ecological impacts. The company is also a member of the Aluminium Stewardship Initiative (ASI), promoting responsible aluminum production across its value chain.

Products and services

Powertrain components

Nemak produces a range of aluminum components essential to internal combustion engine (ICE) powertrain systems, including cylinder heads designed for V6 and V8 engine configurations, engine blocks, oil pans, and transmission cases. These parts leverage high-pressure die casting to support efficient engine performance and durability in automotive applications. Key design features of Nemak's powertrain components include thin-wall casting processes that achieve substantial weight reductions, with aluminum equivalents up to 40% lighter than traditional cast iron versions, thereby enhancing fuel efficiency without compromising structural integrity. Additionally, integrated cooling channels are incorporated into cylinder heads and engine blocks to optimize heat dissipation and thermal management, particularly in high-performance engines. These components are utilized in ICE systems for vehicles produced by leading original equipment manufacturers (OEMs), such as General Motors, Ford, and Volkswagen. Powertrain components represent the core of Nemak's business, accounting for approximately 88% of total output in 2023 and 87% in 2024, driven by high-volume manufacturing that extends to hybrid vehicle applications where ICE elements coexist with electrification. This focus underscores Nemak's pivotal role in supporting transitional powertrain technologies.

Structural and chassis parts

Nemak produces a range of aluminum-based structural and chassis components designed to enhance vehicle safety and efficiency, including subframes, shock towers, cross members, longitudinal members, and liftgates. These parts are primarily manufactured using high-pressure die casting and extrusion processes, allowing for complex geometries that support vehicle body and undercarriage integrity. Additionally, the company offers battery enclosures for electric vehicles (EVs), which consist of large-scale aluminum structures combining castings, stampings, and extrusions to house battery packs securely. The use of aluminum in these components provides significant advantages, such as up to 40% weight reduction compared to steel equivalents, which improves fuel efficiency and overall vehicle performance. Aluminum's properties also enable superior crash energy absorption, as it deforms predictably to dissipate impact forces while maintaining structural rigidity, contributing to enhanced occupant safety in collision scenarios. Nemak's expertise in aluminum castings and extrusions ensures these parts meet stringent automotive standards for durability and corrosion resistance. These components are integrated into various SUVs and trucks from major original equipment manufacturers (OEMs), including Ford, where Nemak supplies battery enclosures for electric models like the Mustang Mach-E. For instance, subframes and shock towers support the chassis in high-volume pickup trucks and SUVs, aiding in load distribution and suspension performance. The structural and chassis segment represents a growing portion of Nemak's business, accounting for approximately 12% of total output in 2023 and 10% in 2024, driven by increasing demand for lightweighting in both internal combustion engine and EV platforms. Nemak emphasizes modular designs in production, particularly for battery enclosures and liftgates, which streamline assembly processes and reduce manufacturing complexity for OEMs. This approach supports scalability and cost efficiency in high-volume automotive applications.

Innovation in lightweighting

Nemak maintains several research and development (R&D) centers focused on advancing lightweighting technologies for the automotive sector, with key facilities including an engineering center in Frankfurt, Germany, operational since 2023, dedicated to electric vehicle (EV) and structural component innovations. Additional product development centers are located in the United States, Mexico, and other regions such as Austria, Canada, Spain, China, and Poland, enabling global coordination under the oversight of a Global Research and Development Director and an Innovation Steering Committee. These centers prioritize alloy systems, complex geometries, and precision cooling concepts to enhance thermodynamic efficiency in EV thermal management components. Nemak's R&D efforts emphasize innovative casting processes and materials to achieve significant weight reductions while incorporating sustainable practices. A notable advancement is the use of vacuum-assisted and semi-solid aluminum die casting, which allows for the production of intricate, high-strength components with reduced defects and improved material efficiency. Key examples include the FAAR-WE E-Bracket developed for BMW, utilizing a novel alloy to deliver a 30% weight reduction compared to traditional designs, and an all-aluminum single-piece sub-frame incorporating about 60% recycled materials for another 30% weight savings. These innovations often eliminate the need for thermal treatments, lowering the carbon footprint, and leverage high-pressure die casting with at least 60% recycled content for crash-sensitive e-mobility parts. In 2024, the acquisition of GF Casting Solutions' automotive business further strengthened Nemak's e-mobility and powertrain capabilities, integrating advanced casting technologies for battery enclosures and structural components. The company has been awarded over 280 patents related to these lightweighting advancements, including methods for precision cooling in EV components to optimize thermal management. In 2024, Nemak filed for 11 additional patents on innovations such as hollow structural components and alloys using up to 80% recycled materials. R&D spending in 2024 totaled approximately US$16 million, representing about 0.3% of revenue, down from higher percentages in prior years due to shifts in electrification adoption, though total capital expenditures reached US$389 million to support broader technological transitions. Nemak collaborates extensively with original equipment manufacturers (OEMs) and universities to drive forward-looking lightweighting solutions, often exceeding OEM-specific weight reduction goals through joint projects on EV battery housings and structural parts. Partnerships include BMW for the E-Bracket and other European OEMs for recyclability and corrosion research, as well as academic institutions such as Tecnológico de Monterrey, McMaster University, and Universidad Autónoma de Nuevo León for internships, lectures, and alloy validation aimed at enhancing vehicle efficiency. These efforts align with broader industry objectives for sustainability, including Nemak's commitment to a 28% reduction in Scope 1 and 2 greenhouse gas emissions by 2030.

Corporate structure

Ownership and governance

Nemak, S.A.B. de C.V. is a publicly traded company listed on the Bolsa Mexicana de Valores (BMV) under the ticker symbol NEMAK, with its shares also available over-the-counter in the United States as NMAKF. Following the spin-off of Controladora Nemak from Alfa S.A.B. de C.V. in December 2020 and the subsequent merger between Nemak and Controladora Nemak in September 2021, Nemak operates as an independent entity with a dispersed shareholder base. As of mid-2025, no single entity holds a majority stake; instead, ownership is dominated by institutional investors, including Norges Bank Investment Management with approximately 3.00% and Vanguard Group with 1.42%. Notable individual shareholders include members of the Garza Sada family, such as Álvaro Fernández Garza (1.78%) and Armando Garza Sada (1.55%), reflecting historical ties to the Alfa conglomerate. The company's governance is overseen by a board of 12 directors, chaired by Álvaro Fernández Garza, which includes a minimum of 25% independent members as required by Mexican securities law to ensure balanced oversight. In March 2025, José Antonio Meade Kuribreña was appointed as an independent board member. Independent directors such as Mónica Aspe Bernal and Juan Carlos Calderón Rojas contribute to key committees, including finance and audit, promoting transparency and accountability. Nemak adheres to the Mexican Securities Market Law and its bylaws for board appointments and operations, with annual general meetings (AGMs) held in Monterrey, Mexico; the 2025 extraordinary AGM, for instance, took place on March 27. In terms of compliance, Nemak maintains robust policies aligned with international standards, including a Global Anti-Corruption Policy that prohibits bribery, fraud, and improper payments across its operations, suppliers, and third-party interactions. The company is a participant in the United Nations Global Compact, committing to its 10 principles on human rights, labor, environment, and anti-corruption, and integrates environmental, social, and governance (ESG) reporting into its sustainability framework, with annual disclosures tied to UN Sustainable Development Goals. These measures are enforced through dedicated governance and compliance departments, including due diligence processes for suppliers and regular training programs.

Leadership and executives

Nemak's leadership is headed by Chief Executive Officer Armando Tamez, who has guided the company's strategic direction since 2013. Tamez joined Nemak in 1984 and advanced through various executive roles in commercial operations, planning, product development, and engineering before assuming the CEO position. With a background in industrial and systems engineering, he holds a bachelor's degree from Tecnológico de Monterrey and a master's in engineering administration from George Washington University. His tenure has emphasized innovation in lightweight aluminum components, aligning Nemak with evolving automotive demands, including the transition to electric vehicles. Key executives support Tamez in core functions, including finance, operations, and regional oversight. Chief Financial Officer Alberto Sada Medina, appointed in 2015, oversees financial strategy and planning; he joined Nemak in 1994, progressing through roles in strategic planning, treasury, and information technology, and earned a bachelor's from Tecnológico de Monterrey and a master's from the University of Texas at Austin. Operations are managed regionally, with Vice President Mexico Ernesto Sáenz handling North American manufacturing and supply since his 2025 appointment—he joined in 1996 with experience in manufacturing, product development, and engineering, holding multiple degrees from Tecnológico de Monterrey. In Europe and Asia, Vice President Klaus Lellig directs activities, a role he has held since 2009 (with Asia added in 2020); Lellig joined in 1997, focusing on manufacturing and product development, and possesses a PhD from RWTH Aachen University. Innovation efforts, including advancements in casting technologies for powertrain and structural parts, are integrated across the executive team, with contributions from sales and engineering leaders like Vice President of Sales and Marketing Dirk Barschkett, who joined in 2013 with over 27 years in automotive engineering and business development, holding degrees from RWTH Aachen University and the University of London. Recent executive changes reflect Nemak's adaptation to sustainability and electrification trends. In 2023, the company elevated its focus on environmental initiatives by formalizing the role of Vice President of Purchasing and Sustainability, currently held by Marc Winterhalter, who joined in 2016 with more than 20 years in global supply chain management and holds a degree from Karlsruhe Institute of Technology; this position oversees procurement strategies aligned with low-carbon aluminum sourcing amid the automotive industry's EV shift. Other appointments include Marcelo Ortiz as Vice President of Business Development and Transformation in 2022, bringing expertise in strategic planning from his 2017 join date and education at Tecnológico de Monterrey and Columbia University. These changes enhance Nemak's responsiveness to global market dynamics. Nemak's decision-making is coordinated through its executive team structure, comprising the CEO, CFO, six vice presidents across functions and regions, and the Global Human Resources Director, ensuring unified global operations and strategic alignment. This committee facilitates cross-regional collaboration on key initiatives, such as supply chain optimization and technological innovation, while the separate Executive Sustainability Committee addresses environmental governance. Edgar Noyola, Global Human Resources Director since 2022, supports talent management; he joined in 1995 with operational and HR experience, holding degrees from Tecnológico de Monterrey and Claremont Graduate University. This framework enables efficient oversight of Nemak's 40 facilities and approximately 23,000 employees worldwide (as of 2024).

Financial overview

Nemak generated total revenue of US$4.9 billion in 2024, marking a 1.7% decline from the previous year amid softer automotive production volumes. Approximately 53% of this revenue came from North America, followed by 34% from Europe and 13% from the rest of the world. The company's profitability showed resilience, with adjusted EBITDA reaching US$633 million and a margin of 12.9% for the full year. These margins had been compressed below 11% in 2022 due to raw material inflation, particularly in aluminum and energy costs, but recovered through pricing pass-through agreements with customers and cost optimization measures. Nemak has been publicly listed on the Bolsa Mexicana de Valores (BMV) under the ticker NEMAKA since its initial public offering in 2015. As of November 11, 2025, the company's market capitalization was approximately 11.83 billion Mexican pesos, equivalent to about US$0.6 billion at prevailing exchange rates. Financial leverage remained manageable, with a total debt-to-equity ratio of 1.06 as of the end of 2024, supported by net debt of US$1.5 billion. Nemak did not distribute dividends in 2024, instead proposing to allocate the fiscal year's results to retained earnings to strengthen its balance sheet.

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  47. https://www.nemak.com/media/3448/nemak_ia_2024-gri_eng.pdf
  48. https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3152244
  49. https://www.linkedin.com/posts/mexcham_mexican-nanjing-china-activity-7388527994396631040-5Fso
  50. https://disclosures.ifc.org/project-detail/AS-ESRS/4838/nemak
  51. https://www.recyclingtoday.com/news/nemak-asi-aluminum-certification-recycling-certification/
  52. https://investorcloud.s3.amazonaws.com/nemak/Presentaciones/NDRS_Presentation_September_2024.pdf
  53. https://finance.yahoo.com/quote/NMAKF/profile/
  54. https://www.foundry-planet.com/d/nemak-is-driving-the-future-of-automotive-lightweighting/
  55. https://www.ai-online.com/2018/01/mass-produced-body-in-white-components-next-frontier-for-aluminum/
  56. https://www.researchgate.net/publication/330959867_The_Nemak_Cosworth_Casting_Process_Latest_Generation
  57. https://www.nemak.com/blog/posts/2020/june/nemak-wins-supplier-of-the-year-award-from-general-motors/
  58. https://investorcloud.s3.amazonaws.com/nemak/InformacionFinanciera/ReportesTrimestrales/2024-2T24-en-.pdf
  59. https://www.nemak.com/blog/posts/2020/july/nemak-is-awarded-vw-groups-launch-of-the-year/
  60. https://www.investing.com/news/transcripts/earnings-call-transcript-nemak-q3-2025-sees-net-income-boost-93CH-4305790
  61. https://www.linkedin.com/posts/armando-tamez-928a4814_drivingmobilityforward-activity-7326585490663424000-apgg
  62. https://www.nemak.com/media/1754/nemak-2019-annual-report-final.pdf
  63. https://nemak.com/media/1748/nemak-press-release-ford-mustang-mach-e-supplier-approved-by-ford-final.pdf
  64. https://www.shapesbyhydro.com/en/knowledge/energy-absorption-in-aluminium-explained/
  65. https://www.nemak.com/blog/posts/2020/january/nemak-demonstrates-its-ev-battery-housing-competence-at-euroguss-2020/
  66. https://www.nemak.com/products-and-technologies/?idN=7968
  67. https://www.nemak.com/products-and-technologies/?idN=7974
  68. https://www.researchandmarkets.com/articles/key-companies-in-lightweight-aluminum-die-castings
  69. https://www.nemak.com/
  70. https://www.alfa.com.mx/wp-content/uploads/2025/04/AnnualReport24-1.pdf
  71. https://markets.ft.com/data/equities/tearsheet/profile?s=NEMAKA:MEX
  72. https://global.morningstar.com/en-ea/investments/stocks/0P0001NDJ1/ownership
  73. https://www.marketscreener.com/quote/stock/NEMAK-S-A-B-DE-C-V-127218885/company-shareholders/
  74. https://investors.nemak.com/gobierno/consejo_administracion
  75. https://investors.nemak.com/gobierno/aspectos_destacados
  76. https://investors.nemak.com/gobierno/asamblea_accionistas
  77. https://simplywall.st/stocks/mx/automobiles/bmv-nemak-a/nemak-s-a-b-de-c-v-shares/management
  78. https://www.nemak.com/media/2577/anti-corruption-policy-public.pdf
  79. https://unglobalcompact.org/what-is-gc/participants/141871-Nemak-SAB-de-CV
  80. https://www.nemak.com/media/3496/modern-slavery-statement-2025.pdf
  81. https://investors.nemak.com/nosotros/directivos
  82. https://www.cargroup.org/person/armando-tamez/
  83. https://investorcloud.s3.amazonaws.com/nemak/InformacionFinanciera/ReportesTrimestrales/2022-Transcript1T22.pdf
  84. https://www.fitchratings.com/research/corporate-finance/fitch-ratings-affirms-nemak-at-bbb-outlook-negative-14-03-2025
  85. https://investors.nemak.com/
  86. https://finance.yahoo.com/quote/NEMAKA.MX/
  87. https://finance.yahoo.com/quote/NEMAKA.MX/key-statistics/
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