Code Systems Awarded Remote Start Program by DaimlerChrysler Corporation's Mopar Division
LAS VEGAS, and HAUPPAUGE, N.Y., Jan. 7, 2004 -- LAS VEGAS CONVENTION CENTER - 2004 WCES -- Fresh on the heels of being selected by Mazda North America to develop and manufacture remote engine start systems for various 2004 and 2005 vehicle platforms, Code Systems has been awarded a remote start program by the Mopar, a division of DaimlerChrysler Corporation. The announcement was made by Patrick M. Lavelle, President of Code Systems, Inc., and President-CEO of Audiovox Electronics Corporation .
The program initially consists of developing dealer-installed accessory remote start systems for the Dodge Ram truck platform, all mini-vans such as the Dodge Caravan, Chrysler Town & Country and Plymouth Voyager, and the all-new Chrysler Pacifica. Scheduled for introduction in early 2004, the systems will apply to the 2004, 2005 and 2006 model year vehicles. Additional vehicle platforms are targeted for late 2004 introductions.
Code Alarm (now Code Systems) has been a supplier of accessory security and keyless entry systems to Mopar since 1988. Code Systems will support the program by providing corporate marketing support and a "1-800-34Mopar" tech hotline team to support this dealer-installed accessory. Additionally, Code Systems will provide field sales and technical support for the Mopar sales staff and dealers across the US and Canada.
Lavelle says, "When you look at Code's track record, it all makes sense. The facts speak for themselves." Since 1986 when the company developed a keyless entry system for GM, their progress has been steady, leading the changes in vehicle security, keyless entry and remote start technology.
Remote start is a good example of Code's innovative contributions to the OEs. "Originally, remote start was perceived by the car manufacturers as problematic because of the safety implications and the extensive validation requirements to integrate a system into the vehicle. In 2000, Code, after working with Ford for over two years, helped co-develop and launch a first-ever OEM remote start program," Lavelle said.
From 1987, right through to the late 90s, Code's accomplishments have included accessory keyless entry and security systems for GM, Ford, Chrysler and Volkswagen NA. Additionally, Code has supplied products to port of entry facilities for Mazda NA Operations, KIA Motors America, Mitsubishi Motor Sales America NA and Subaru of North America. Code has also developed an Interior Theft Sensor(R), directly supplying three GM production facilities, as optional equipment on multiple vehicle platforms.
Fast forward to 2004, and you see how Code Systems, Inc., now a subsidiary of Audiovox Electronics Corporation, can offer automotive OE manufacturers an enhanced level of field sales and technical support for their accessory sales of vehicle security, keyless entry and remote start products. Code Systems offers OE manufacturers turnkey service that is efficient and cost effective. Along with field sales and technical services there are program management support systems that cover product development by customer specification, and application engineering supplied by vehicle integration technical experts. Code's engineering services include validation to customer requirements, hardware design, embedded software design, an in-house testing laboratory and new technology R&D. Lavelle believes that these types of technologies and market-leading consumer feature-benefits will continue to give Code Systems many opportunities to expand its factory floor business.
Code Systems, a wholly-owned subsidiary of Audiovox Electronics Corp., supplies remote vehicle control systems and components to the Accessory, Mass Customization and Vehicle Production divisions for the world's top automakers, including General Motors, Ford, DaimlerChrysler, Kia and Mazda. Code Systems products are designed specifically to work with the sophisticated electrical systems found in today's cars, trucks, minivans and sport utility vehicles. Code Systems produces its products to automotive specifications and is certified under the QS-9000 quality system designated by the major automotive manufacturers.
Audiovox Electronics Corporation (AEC) is a wholly-owned subsidiary of Audiovox Corporation . AEC is a recognized leader in the marketing of automotive entertainment, vehicle security and consumer electronics products. The company is number one in mobile video and places in the top ten of almost every category that it sells. Among the products marketed by AEC are mobile video systems, portable DVD players, flat-panel TV's, auto sound systems including satellite radio, vehicle security, and consumer electronics products such as extended range two-way radios, multi media products like MP 3 players, and home and portable stereos. The company markets its products through an extensive distribution network that includes power retailers, 12 volt specialists, mass merchandisers and an OE sales group. The company markets products under the Audiovox, Jensen, Acoustic Research, Advent, Code Alarm and Prestige brands. For additional information, visit our web site at www.audiovox.com.
Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to: risks that may result from our ability to keep pace with technological advances; significant competition in the wireless, mobile and consumer electronics businesses; quality and consumer acceptance of newly introduced products; our relationships with key suppliers and customers; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against Audiovox and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the factors set forth herein, are detailed in the Company's Form 10-K for the fiscal fourth quarter and year ended November 30, 2002 and its Form 10-Q for the three months ended August 31, 2003.
Public Relations Contact: Investor and Financial Media Contact: Melvin Clapman Glenn Wiener Melvin Clapman Public Relations GW Communications (718) 474-2528 or (212) 786-6011 or mclapman@mindspring.com gwiener@GWCco.com