|
October 15, 2002 BEI TECHNOLOGIES, INC. MARKS SHIPMENT OF FIVE MILLIONTH AUTOMOTIVE GYROCHIP®; CREATES TWO SYSTRON DONNER OPERATIONS SAN FRANCISCO, CA, October 15, 2002 - BEI Technologies, Inc. (Nasdaq: BEIQ) has recorded shipment of the five millionth GyroChip automotive yaw rate sensor manufactured by its Systron Donner Inertial Division. According to Charles Crocker, Chairman and CEO, "The continued global acceptance of these remarkable devices by the auto industry has helped us achieve this production milestone in a relatively short time. It was in February of 2000 when we announced the shipment of the one millionth GyroChip. During this time frame we have continued to miniaturize the sensors thereby increasing the number of sensors per wafer while incorporating our previously patented continuous built-in-test (C-BIT) features in all automotive products." Crocker continued, "As previously stated, effective September 30, 2002, Systron Donner separated into two distinct operations to better focus on what we believe are the significant market opportunities for our proprietary quartz MEMS GyroChip. BEI Systron Donner Automotive Division will continue to provide products and technology to the rapidly growing automotive stability control, roll-over and emerging systems markets using the highly accurate two-degrees-per-second GyroChip currently in high rate production." The new BEI Systron Donner Inertial Division will focus on opportunities in the Aerospace, Defense and Commercial Aviation segments with our quartz MEMS technology. This new division will be responsible for providing sensors to fulfill the previously announced order from Lockheed Martin for the Predator Missile. The division will leverage BEI's high volume automotive manufacturing capabilities and cost advantages to aggressively pursue emerging opportunities in unmanned aerial vehicle control systems, missile guidance, smart munitions and commercial aviation and navigation. Crocker concluded: "Our strategic goals are to leverage our technical expertise in Aerospace & Defense markets to provide a complete six-degrees-of-freedom Inertial Measurement Unit (IMU) for the Automotive market, while leveraging our high volume, low cost automotive expertise in providing the best price / performance ratio in the Aerospace, Defense and Aviation markets." BEI Technologies, Inc. is an established manufacturer of electronic sensors, motors, actuators and motion control products used for factory and office automation, medical equipment, military, aviation and space systems. In addition, sales to manufacturers of transportation equipment including automobiles, trucks and off-road equipment have become a significant addition to the Company's business in recent years. The Company's micromachined quartz yaw rate sensors are being used in advanced vehicle stability control systems and a significant increase in the production of those sensors has been in progress since the middle of 1998. BEI also manufactures electronic steering wheel position sensors, seat-memory modules; throttle position and pressure sensors and other devices used in automotive systems. Except for historical information, this news release may be deemed to contain forward-looking statements that involve risks and uncertainties, including statements with respect to future timely development, acceptance and pricing of new products; potential impact of competitive products and their price; the ability to manufacture products in sufficient volume on an efficient and timely basis; general economic conditions as they affect the Company's customers and strategic partners, as well as other risks detailed from time to time in the Company's reports to the Securities and Exchange Commission, including the Company's Form 10-K for fiscal 2001. For further information,
please contact: All trademarks are properties of their respective companies. |