Pioneer North America Merges Automotive OEM Team to Enhance Market Position

Move Will Combine Detroit-Based Sales/Engineering Group With Manufacturing Arm

LONG BEACH, Calif., and DETROIT, Jan. 6 -- Pioneer North America today announced that its automotive OEM sales company will merge with its manufacturing and engineering company to create a single entity that leverages the strengths of both companies in the automotive market. The two groups, formerly known as Pioneer Automotive Electronics Sales, Inc. of Farmington Hills, MI and Pioneer Industrial Components, Inc. of Springboro, OH will be recognized under the new structure as Pioneer Automotive Technologies, Inc. Headquarters will continue to be located in Farmington Hills, MI with additional offices in Springboro, OH; Indianapolis and Long Beach, CA.

  (Logo:  http://www.newscom.com/cgi-bin/prnh/20020628/PIONLOGO )

By merging the two separate companies, Pioneer expects to serve its customers with a more unified sales, engineering and manufacturing team that will acquire, execute and deliver new market-leading mobile multi-media and information products with increased speed, quality and cost competitiveness.

"Our Pioneer Automotive Technologies, Inc. management team is confident that this integration of resources will enable our North American OEM team to further leverage skills, improve inter-company communications, and drive common practices across our organization," said Steven Moerner, president and COO of Pioneer Automotive Technologies, Inc. "We believe the merging of two independent organizations will provide our customers, employees and communities with a stronger, more responsive organization."

The change is effective January 1, 2004.

Pioneer Automotive Technologies, Inc. engineers, manufactures and markets mobile entertainment products directly to automotive manufacturers and tier-one suppliers. Its parent company, Pioneer Corporation, is a leader in optical disc technology and a preeminent manufacturer of high-performance audio, video and computer equipment for the home, car and business markets. The company focuses on four core business domains including DVD, display technologies, Digital Network Entertainment(TM) and components. Founded in 1938 in Tokyo, Pioneer Corporation employs more than 35,000 people worldwide. Its shares are traded on the New York Stock Exchange .

For further information, please contact: Jaed Arzadon of Pioneer North America, +1-310-952-2451, jarazadon@pioneer-usa.com; or Steve Bonsignore of GCI, +1-212-537-8094, sbonsignore@gcigroup.com, for Pioneer North America.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20040106/LATU066
http://www.newscom.com/cgi-bin/prnh/20020628/PIONLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com