22 unchanged sentences
(1) Date of Acquisition/Build refers to first year of operations and does not refer to subsequent additions or expansions.
−Removed: In 2021, the Company completed construction of a 36,000 square-foot addition to its main corporate office and manufacturing facility to expand its chemistry lab facilities, with a total cost of approximately $10 million, which was funded from cash and cash equivalents on hand.
−Removed: Additionally, in the fourth quarter of 2023, the Company completed construction on a 345,000 square-foot manufacturing facility located at a 140 acre site in Zeeland, Michigan, where the Company previously performed master planning and completed land infrastructure improvements.
+Added: In 2023, the Company completed construction on a 345,000 square-foot manufacturing facility located at a 140 acre site in Zeeland, Michigan, where the Company previously performed master planning and completed land infrastructure improvements.
The total cost of the building project was approximately $85 million, which was funded with cash and cash equivalents on hand.
−Removed: The Company began construction on two building expansions during the second quarter of 2022.
−Removed: The Company is expanding its current distribution center by an additional 300,000 square feet, with a total cost still expected to be approximately $40 - $45 million.
−Removed: The Company is also expanding another of its manufacturing facilities by an
−Removed: additional 60,000 feet, with a total cost still expected to be $20 - $30 million.
−Removed: Both of these expansion projects will be funded with cash and cash equivalents on hand.
−Removed: Both facilities are expected to operational sometime in 2024.
+Added: In the fourth quarter of 2024, the Company completed construction on two building expansions.
+Added: The Company expanded its current distribution center by an additional 300,000 square feet, at a total cost of approximately $40 million.
+Added: The Company also expanded another of its manufacturing facilities by an additional 60,000 feet, with a total cost of approximately $20 million.
+Added: Both of these expansion projects were funded with cash and cash equivalents on hand.
During 2023, the Company began the design and initial build phase of the previously announced Gentex Discovery Preschool, an on-site daycare and preschool designed to provide Company employees with convenient, cost-effective access to quality childcare.
−Removed: Construction is expected to begin in 2024, subject to regulatory approval as a result of wetlands mitigation, with an expected completion date in 2025.
+Added: Construction began in the third quarter of 2024 as previously announced, with an expected completion date in 2025.
The total cost of the building project is expected to be $15 - $20 million, which will be funded with cash and cash equivalents on hand.
−Removed: The Company also has leased sales and engineering offices throughout North America, Europe, and Asia to support its sales and engineering efforts, as well as a leased manufacturing facility in Grand Rapids, Michigan:
+Added: The Company has also leased sales and engineering offices throughout North America, Europe, and Asia to support its sales and engineering efforts, and, in addition, has leased a manufacturing facility in Grand Rapids, Michigan:
Country Number of Leased Offices/Facilities
6 unchanged sentences
Nevertheless, the Company continues to evaluate longer term facilities needs.
−Removed: The Company estimates that it currently has building capacity to manufacture approximately 34 - 37 million interior automatic-dimming mirror units annually, based on current product mix (excluding the impact of the above referenced construction).
+Added: The Company estimates that it currently has building capacity to manufacture approximately 42 - 45 million interior automatic-dimming mirror units annually, based on current product mix.
The Company evaluates equipment capacity on an ongoing basis and adds equipment as needed.
In 2024, the Company shipped 29.9 million interior automatic-dimming mirrors.
−Removed: The Company’s automotive exterior mirror manufacturing facility has an estimated building capacity to manufacture approximately 19 - 22 million units annually, based on the current product mix (excluding the impact of the above referenced construction).
+Added: The Company’s automotive exterior mirror manufacturing facility has an estimated building capacity to manufacture approximately 19 - 22 million units annually, based on the current product mix.
The Company evaluates equipment capacity on an ongoing basis and adds equipment as needed.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.