LAS VEGAS — Japanese parts supplier Marelli is looking to boost collaboration with automakers and tech companies while regionalizing its manufacturing strategy as it emerges from last year's court-led financial restructuring.
"We're working really hard after the rehabilitation to put the customer at the center of everything we do," Marelli CEO David Slump said in an interview with Automotive News during CES this month.
Slump said the supplier of lighting, electronics and interior systems is in a much stronger position following last year's restructuring, which the company entered as it found itself with about $8.3 billion in debt and struggling to pay back lenders. Last year's restructuring helped Marelli, a key supplier to Stellantis and Nissan, slash at least $3.4 billion in debt, according to a Bloomberg report.
Marelli's finances are difficult to verify because the company is owned by the New York private investment house KKR & Co. But Slump said the supplier has been profitable since September.
That's a major improvement for a company that has struggled to find its financial footing in recent years. According to Japanese newspaper Nikkei, Marelli booked four straight years of losses from 2018 through 2021.