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Wednesday November 3, 6:31 am Eastern Time
Company Press Release
Simula to Supply ITS Technology to Leading Automaker
Brings to 19 the Number of Vehicle Platforms Sourced for ITS Technology
PHOENIX--(BUSINESS WIRE)--Nov. 3, 1999--Simula Inc. (NYSE:SMU - news) Wednesday announced that it has received a major program award adopting Simula's patented Inflatable Tubular Structure (ITS®) technology for an automotive side-impact inflatable head and neck protection system.
The award -- one of the largest contracts Simula has received to date -- represents multiple automotive platforms at a leading automaker. The award was confirmed this week by Delphi Automotive Systems (NYSE:DPH - news), one of Simula's major first-tier business partners. The award falls under Delphi's Advanced Safety Interior (ASI) program, a portfolio of products designed to provide protection in frontal, side and rear collisions.
For competitive reasons and at the customer's request, the identity of the automaker -- as well as anticipated production volumes and other detailed information -- cannot be disclosed at this time.
With the eight platform adoptions that have already been publicly announced and other platform awards not previously disclosed, this award brings to 19 the total number of platforms to be sourced by the Company to a total of five different foreign and domestic auto and truck OEMs. The ITS system is currently integrated in all BMW Group automotive platforms.
Simula is a leader in developing and commercializing protective systems and energy absorption technologies that safeguard human lives. Products include advanced occupant seating and restraint systems for commercial airline, military, and automotive applications. Additional information may be found at www.simula.com.
Statements made in this news release, including statements concerning the total number of ITS platforms expected to be sourced by the Company, are based on information received from the customer; they are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in such statements. Among other things, the relationships between the Company's first-tier business partners and automobile manufacturers may change due to circumstances beyond the Company's control, in which case the actual number of platforms sourced may be less than the number estimated in this release. Other factors that may cause actual results to differ from anticipated results include those described in the Company's registration statements and periodic reports filed with the U.S. Securities and Exchange Commission |
