SRI - Stoneridge Presents Supplier of the Year Awards to PARMI and Renesas Electronics

NOVI, Mich., Oct. 2, 2019 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) recognized its top global suppliers through the company's Supplier of the Year Award Program at its biennial Supplier Summit conference and awards ceremony on September 26, 2019. The summit aligns Stoneridge's top strategic suppliers with the company's vision and strategy, and honors those who best exemplify supplier partnerships.

Jon DeGaynor, president and chief executive officer, addressed the participants: "In this increasingly connected world, strategic partnerships are becoming more and more critical. We engage suppliers who are aligned with the company's goals to consistently exceed customer expectations in the planning, execution, and delivery of solutions for the transportation industries we serve. We don't win without you."

With more than 90 attendees from Stoneridge's top 50 suppliers, this marks the second time the company has honored outstanding performance among its suppliers. Two suppliers were recognized for their achievements in the categories of indirect and direct material.

For indirect material, the Supplier of the Year Award was presented to PARMI (Pattern Recognition & Machine Intelligence) for:

• Developing innovative solutions that deliver best-in-class value in the areas of quality, delivery and cost
• Consistently exhibiting strong partnership through strategic alignment on terms and conditions, exemplary customer service, and proactive and competitive engagement in the RFQ process, with focused understanding of the company's technical requirements

For direct material, the Supplier of the Year Award was presented to Renesas Electronics for: 

• Successfully demonstrating innovative and technically sustainable solutions
• Further strengthening partnerships through awareness and understanding of Stoneridge's focus segments and product needs
• Ensuring the continuity of quality and supply during times of difficult market conditions

"Stoneridge's Supplier of the Year Awards allow us to recognize suppliers who focus on creative solutions, quality, value and operational excellence," said Dan Kusiak, chief procurement officer. "These characteristics play an instrumental role in helping Stoneridge achieve success and are embodied in the two suppliers who received awards this year."

About Stoneridge, Inc.
Stoneridge, Inc., headquartered in Novi, Mich., is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems principally for the automotive, commercial vehicle, motorcycle, agricultural and off-highway vehicle markets. Additional information about Stoneridge can be found at Stoneridge.com.

Contact:
Regan Grant
Director, Global Strategic Marketing and Communications
regan.grant@stoneridge.com
+1.248.829.2100

SOURCE Stoneridge, Inc.