STRATTEC SECURITY CORP

Strattec

Overview

Strattec is a global automotive access company that designs and delivers safe, secure, and highly engineered access solutions for the automotive and mobility markets. Its product portfolio spans the access journey from Permission (secure vehicle entry) to Motion (powered access) to Hold (latching solutions). Strattec serves original equipment manufacturers (OEMs) and aftermarket channels and positions itself as an engineering-driven partner focused on customized, integrated system solutions, quality, and delivery performance.

Products and technology

• Permission
  • Mechanical and electronically enhanced locks and keys, fobs, passive entry/passive start systems, digital key, steering column and instrument panel ignition lock housings, and related solutions.
• Motion
  • Powered access systems including power sliding doors, power tailgates, liftgates, associated drivetrain mechanisms, and electronic control units.
• Hold
  • Patented high-function latches (for example, power clinching latches and release latches) designed for secure, durable closure across vehicle architectures.
• Joint venture
  • Provides vehicle door handles through a joint venture with ADAC Automotive.
• Platform and software
  • Uses core platform approaches to reuse components across systems and emphasizes software capability (for example, digital key) and integrated mechanical, electrical, and software design.
• Safety and applicability
  • All products are safety critical and powertrain agnostic (suitable for internal combustion, plug-in/hybrid, or electric vehicles). Vehicles with these products are typically designed 3–5 years before production, and platforms generally last about 5–7 years.

Customers and revenue concentration

• Sales to OEMs (including Tier 1 suppliers) represent approximately 90% of total sales; the remainder is aftermarket, service channels, and non-automotive customers.
• Customer concentration in fiscal 2026:
  • General Motors Company (GM): 27% of annual sales
  • Ford Motor Company: 21% of annual sales
  • Stellantis: 16% of annual sales
• Customer relationships
  • Strattec typically works with customers early in the design process (often more than five years before launch) and remains the incumbent supplier for a platform’s life once awarded (commonly five to seven years). Some models are market tested annually and the lack of long-term order guarantees can lead to demand volatility.
• Vehicle coverage
  • Strattec’s solutions are used on over 90 different customer vehicle platforms, including EV, plug-in, hybrid, and internal combustion models.

Engineering, development, and lifecycle

• Product engineering follows a formal, collaborative development process with customers and emphasizes integrated system engineering across mechanical, electrical, and software domains.
• The company is expanding software and digital key capabilities and uses platform carry-over components to accelerate design and improve packaging flexibility.
• Long lead times are typical for new models; after design-in, Strattec generally remains the supplier for the platform life, benefiting from customization and platform certification.

Intellectual property

Strattec relies on patents, trademarks, trade names, copyrights, trade secrets, confidential information, and proprietary manufacturing processes. No single patent or group of patents is material to the business as a whole, and trade secrets and accumulated know-how are important assets.

Joint ventures and partnerships

Strattec operates a joint venture with ADAC Automotive for certain door handle products. The arrangement requires shared ownership management and can limit the company’s ability to independently exit or reallocate assets.

Manufacturing footprint and facilities

Strattec maintains five manufacturing plants, one distribution warehouse, and two sales/engineering offices:

• Milwaukee, Wisconsin — Corporate headquarters and manufacturing; 345,123 sq ft; Owned.
• Juarez, Chihuahua, Mexico — Manufacturing; three facilities:
  • 169,926 sq ft; Owned.
  • 77,527 sq ft; Owned.
  • 114,841 sq ft; Owned.
• Leon, Mexico — Manufacturing; 130,532 sq ft; Owned.
• El Paso, Texas — Distribution warehouse; 114,715 sq ft; Leased.
• Auburn Hills, Michigan — Sales and engineering; 62,736 sq ft; Owned.
• Seoul, South Korea — Sales and engineering; 2,859 sq ft; Leased.

These sites support the full product lifecycle, including development, tooling, testing, manufacturing, assembly, distribution, and customer support, with a manufacturing focus in the U.S. and Mexico and sales/engineering presence in other regions.

Workforce

As of June 28, 2026, Strattec employed 2,654 associates:

• United States: 395
• Mexico: 2,252
• Other countries: 7

A portion of the workforce is unionized. Current union contracts exist at the Milwaukee location (expiry 2030) and the Leon location (expiry 2027).

Operations and sourcing

Strattec sources raw materials and components from a global supplier network, including zinc, brass, nickel silver, steel, aluminum, plastics, and semiconductors. Manufacturing is closely tied to global supply chains, exposing the company to raw material price fluctuations, supply disruptions, and cross-border trade dynamics.

Geopolitical, trade, and market factors

The company is exposed to cross-border trade dynamics and tariff or origin-rule changes, including USMCA considerations. The global automotive supply industry is competitive, including pressure from Chinese OEMs and suppliers, which can affect pricing and margins. The business is also subject to vehicle production cyclicality, seasonality, broader economic conditions, inflation, and supply chain constraints.

Governance and compliance

Strattec maintains governance for cybersecurity and risk management and participates in ongoing legal, environmental, and regulatory compliance activities as part of its global operations. The company emphasizes early customer involvement, customized solutions, and the ability to deliver high-quality components and systems focused on safety, security, and reliability across evolving vehicle architectures.