BREED Furthers Minority Business Development Program

16 September 1998

BREED Furthers Minority Business Development Program

    LAKELAND, Fla.--Sept. 16, 1998--BREED Technologies, Inc, , a global leader in the design, development and production of automotive occupant safety systems, recently signed a letter of intent with Thomas Madison Incorporated for the supply of metal stamping components and services to BREED's Knoxville, Tennessee production facility. Thomas Madison is a highly respected minority-owned automotive supplier currently operating 4 facilities in Michigan and 4 facilities in Ohio.
    "This supply agreement represents a significant step in BREED's overall minority business development plan", said Greg Heald, BREED's Vice President , Global Procurement. "We expect the relationship between BREED and Thomas Madison to develop further and grow rapidly over the next several years."
    Thomas Madison plans to acquire a production facility in the Knoxville area to support the BREED business, as well as business from other customers. BREED will purchase a significant portion of its Knoxville requirements for stamped components and services from Thomas Madison.
    Headquartered in Lakeland, Fla., BREED is one of the world's most fully integrated suppliers of complete automotive occupant safety systems. The company supports its growing list of automotive customers with advanced engineering, testing and manufacturing facilities located in 13 countries around the globe. Information about BREED and its products is available on the Internet at http://www.breedtech.com.