...November 28, 2023 Nemak, S.A.B. de C.V. maintained a cushion to withstand an EBITDA decline of up to 10%, stemming from the United Auto Workers (UAW) strike, before leverage metrics start to weaken. Nemak sold approximately 55% of its total volumes to North America for the nine- month period ended Sept. 30, 2023 (versus. 54% for the same period in 2022). Most of this share relies on Detroit's big three automakers--Ford Motor Co., General Motors Co., and Stellantis N.V. Given UAW strikes at these automakers over employee salaries, the industry faced potential setbacks in sales of pent-up supply and in auto parts orders until this matter was resolved. It is important to note that Nemak reported no production interruptions, nor contract cancellations during the third quarter of 2023 and was ready to activate contingency plans, if needed. The three automakers' plants that experienced strikes did not relate directly to Nemak's production. Nemak currently generates about 53% of total revenue...
