Multi-Million Agreement with Wheel Monitor Inc.
AMEX and TSE: AGT
TORONTO, Sept. 20 /CNW/ - AimGlobal Technologies Company Inc. (AMEX,
TSE:AGT) today announced that its EMS division, Aimtronics Corporation, has
entered into a major manufacturing agreement with Wheel Monitor Inc. for the
production of advanced truck/trailer monitoring systems to meet the new
PLC4Trucks standard.
Wheel Monitor Inc. produces a complete suite of trailer monitoring
modules that communicate with a display in the tractor cab using the PLC4Truck
(Power Line Carrier) standard Intellon chip-set. One module is a National
Safety Transportation Board mandated in-cab brake-fault warning system for
anti-lock brakes (ABS), and other modules provide critical monitoring and
early warning indicators for other conditions in the trailer. Aimtronics has
worked with Wheel Monitor from the earliest stages of product design,
positioning and prototyping, and with this agreement will continue into the
future providing its full range of value-added supply chain solutions, from
procurement to testing and top-level electronics manufacturing expertise.
Mr. Steve deJaray, Chairman and CEO of AimGlobal Technologies, stated,
"This is a unique strategic partnership where, together with evolving
legislation, advanced electronics manufacturing and a focus on growing truck
safety markets, we will play an important role as a leading technical provider
of services to the truck manufacturing industry."
Mr. deJaray continued, "Within our first year of production, we can
expect revenue potential of $20 million for the ABS technology alone. Combined
with revenue from the early warning system we expect Wheel Monitor to be among
our top revenue-producing customers."
AimGlobal Technologies also announced a reminder to interested
shareholders that the Company's annual general meeting will be held today,
Wednesday, September 20, 2000, at 10:00 am at the TSE Conference Centre in
Toronto, Ontario.
About Wheel Monitor
Wheel Monitor Inc. combines solid hands-on experience in the world of
trucking with an in-depth knowledge of leading-edge technology for trucking
safety, and produce leading products to answer those needs.
The US National Transportation Safety Board's new brake-fault warning
requirements come by way of US Federal Bill FVSS121. This mandate has created
a market of some $2 billion as an estimated six million tractors and 24
million trailers in the US require compliance by March 1, 2001. There are an
estimated 500,000 new tractors and trailers produced every year in the US.
Wheel Monitor not only provides the solution to the NTSB's mandate using the
PLC4Truck's standard, but also remains the only company to provide multi-
purpose safety and functional controls also using the PLC4Trucks standard.
Wheel Monitor is a technical leader and an important supplier to this market.
In addition to the brake-fault warning module, Wheel Monitor's Early
Warning System (EWS) monitors up to 14 variables on five trailers, displaying
critical information on an easy-to-read dashboard display. The EWS provides
early indications of wheel failure, temperature aberrations, unauthorized
trailer intrusion and more.
Wheel Monitor is a member of the Truck Maintenance Council, participates
in the PLC4Trucks Consortium and sits on the Low-Speed Communications
Committee of the Society for Automotive Engineers.
About Aimtronics Corporation
Aimtronics Corporation, a wholly-owned subsidiary of AimGlobal
Technologies Company Inc., offers a complete range of electronics
manufacturing solutions and is a leading technical provider of services in the
Microelectronics industry. Aimtronics' supply chain management solutions offer
design assistance, reducing time-to-market metrics, time-to-volume metrics,
full product testing, packaging, warranty service and end-of-life support.
Aimtronics' microelectronics technology centre provides proprietary thick-film
hybrid design and assembly including Chip-on-Board, Multi-Chip Module, and
Flip-Chip technologies.
Through five facilities located across the continent, Aimtronics serves
the high technology markets throughout North America.
About AimGlobal Technologies Company Inc.
Founded 14 years ago, and through its operating subsidiary, Aimtronics
Corporation, AimGlobal Technologies serves the medical, aerospace, wireless,
communications, industrial, military and emergency services markets. With
operations in New York state, Ontario and British Columbia, AimGlobal
Technologies is a recognized technical innovator and leading manufacturer of
proprietary microelectronic solutions.
Safe Harbour Statement
Certain information in this press release contains forward-looking
statements within the meaning of the Securities Exchange Act of 1934,
including those concerning the Company's future results and strategy. Actual
results could differ from those in the forward-looking statements due to a
number of uncertainties, including but not limited to: the demand for the
Company's products and services; the size, timing and recognition of revenue
from significant orders; increased competition; changes in Company strategy;
product life cycles; the impact of rapid technological advances; evolving
industry standards; changes in customer requirements; and fluctuations in
foreign exchange rates.
The Company's expense levels are based, in part, on its expectations as
to future revenue and a significant portion of the Company's expenses do not
vary with revenue. As a result, if revenue is below expectations, results of
operations are likely to be materially adversely affected.
For More Information
Visit Aimtronics Corporation at www.aimtronics.com
Visit AimGlobal Technologies at www.aimglobaltech.com
For further information: Company Contact: AimGlobal Technologies Company
Inc., Lisa Deguchi, (604) 647-1197, ldeguchi@aimglobaltech.com |
