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Gentex Corporation Named to Business Week's List of Hot Growth Companies

28 May 1999

Gentex Corporation Named to Business Week's List of Hot Growth Companies

    ZEELAND, Mich., May 27 -- Gentex Corporation ,
the Zeeland, Michigan-based manufacturer of automatic-dimming rearview mirrors
and commercial fire protection products, has been named to Business Week's
1999 "Hot Growth" list, which ranks the 100 fastest-growing small companies.
    Gentex is best known for supplying automakers with Night Vision Safety(TM)
(NVS(R)) Mirrors, which automatically darken to reduce glare from the
headlamps of vehicles approaching from the rear.  The brighter the glare, the
darker the rearview mirrors become, making nighttime driving safer.
    In this its 15th annual list, Business Week ranked Gentex No. 65 overall,
identifying the company's three-year average sales and earnings increases as
25.8 percent and 39.4 percent, respectively.  Gentex's three-year average
return on capital was stated as 19.9 percent.
    According to Business Week, the selection process for the Hot Growth list
begins by ranking companies according to their three-year results in sales
growth, earnings growth, and return on invested capital.  A company's
composite rank is calculated by taking the sum of 0.5 times its rank in return
on total capital plus 0.25 times each of its growth ranks.
    To qualify for the list, a company has to have annual sales of more than
$25 million and less than $500 million, a current market value greater than
$25 million, a current stock price greater than $5, and be actively traded.
Also, the most recent return on capital has to be at least 90% of the prior
year.
    Gentex Corporation is an international company that provides high-quality
products to the worldwide automotive industry and North American fire
protection market.  The Company develops, manufactures and markets proprietary
electro-optic products, including interior and exterior electrochromic,
automatic-dimming Night Vision Safety(TM) (NVS(R)) automotive rearview mirrors
that dim in proportion to the amount of headlight glare from trailing vehicle
headlamps, and an extensive line of fire protection products for commercial
applications.  Revenues from the sale of automatic-dimming mirrors represent
about 91 percent of total Company revenues.
    Gentex was the first company in the world to successfully develop and
produce a commercial electrochromic mirror for the motor vehicle industry.
The Company is the leading supplier of these mirrors to the worldwide
automotive industry.  Gentex customers include Audi, Bentley, BMW, Daewoo,
DaimlerChrysler, Fiat, Ford, General Motors, Gulf States Toyota, Hyundai,
Infiniti, Kia Motors, Lexus, Nissan, Opel, Porsche, Rolls Royce, Samsung,
Southeast Toyota Distributors and Toyota.
    Founded in 1974, Gentex operates out of three facilities in Zeeland,
Michigan; an automotive sales office in Livonia, Michigan; automotive sales
and engineering subsidiaries in Germany and Japan; and four regional U.S.
sales offices for the Fire Protection Products Group.  The Company is
recognized for its quality products, its application of world class
manufacturing principles, for its commitment to developing and maintaining a
highly skilled workforce, and for encouraging employee ownership of the
Company's stock.