Nexteer Enhances China Trade Management Capability with Amber Road's Trade Automation Solution
EAST RUTHERFORD, NJ, January 19, 2016 -- Amber Road (NYSE: AMBR), a leading provider of global trade management solutions (GTM), today announced Nexteer Automotive (HK:1316) expanded its use of Amber Road's China Trade Management Solution (CTM) to automate compliance with China's trade regulation regimes and enhance supply chain performance.
Nexteer is a multi-billion dollar global manufacturer of advanced steering and driveline products headquartered in Saginaw, Mich. The company has twenty-one manufacturing plants across the Americas, Europe and Asia and serves many of the world's largest automakers.
Nexteer initially installed Amber Road's web-based, on-demand CTM solution in its Suzhou facility in 2012 to meet China's compliance requirements for Processing Trade, an import regime enacted by the Chinese government. Processing Trade affects companies that import materials and components into China and use those materials and components to manufacture finished goods for export to foreign markets. When properly administered, Processing Trade transactions are exempt from import duties and value-added taxes on export.
Nexteer's business expansion, along with the breadth of functionality and trade content coverage of Amber Road's CTM solution, led the company to extend its use of the solution to cover both Processing Trade and General Trade regulations in both its Suzhou facility and its new Liuzhou facility. Furthermore, the solution enhances Nexteer's logistics expense management capabilities with better compliance and consolidated expense allocation.
According to a recent SCM World China Trade Management survey, companies reported that the frequently changing, unpredictable and complex trade regulations were the number one growth barrier in China. Amber Road's CTM solution provides Nexteer with timely trade regulatory updates to ensure uninterrupted import and export operations, reducing costs and improving supply chain efficiencies.
"Nexteer recognizes that automating China Trade Management yields greater productivity, efficiency and compliance," said Kae-por Chang, managing director, Amber Road China. "We look forward to working more closely with Nexteer as they expand their corporate compliance strategy, thus helping them increase their competitive advantages and grow revenues."
Nexteer is a global steering and driveline business solely dedicated to electric and hydraulic steering systems, steering columns and driveline products for original equipment manufacturers. With more than 10,000 employees, Nexteer operates 21 manufacturing plants, five regional engineering centers and ten customer service centers located in North and South America, Europe and Asia.
By focusing on electric power steering (EPS), a socially responsible technology that offers automakers increased fuel economy and reduced emissions, Nexteer has put more than 28 million EPS units on the road since 1999, saving more than 3.0 billion gallons of fuel.
About Amber Road
Amber Road's (NYSE: AMBR) mission is to improve the way companies manage their international supply chains and conduct global trade. As a leading provider of cloud based global trade management (GTM) solutions, we automate the global supply chain across sourcing, logistics, cross-border trade, and regulatory compliance activities to dramatically improve operating efficiencies and financial performance. This includes collaborating with suppliers on development, sourcing and quality assurance; executing import and export compliance checks and generating international shipping documentation; booking international carriers and tracking goods as they move around the world; and minimizing the associated duties through preferential trade agreements and foreign trade zones. Our solution combines enterprise-class software, trade content sourced from government agencies and transportation providers in 145 countries, and a global supply chain network connecting our customers with their trading partners, including suppliers, testing/auditing firms, freight forwarders, customs brokers and transportation carriers. We deliver our GTM solution using a Software-as-a-Service (SaaS) model and leverage a highly flexible technology framework to quickly and efficiently meet our customers' unique requirements around the world.