Audiovox Named Supplier of Auto Security Systems for 1999 Hummer
8 October 1998
Audiovox Named Exclusive Supplier of Auto Security Systems for All 1999 Hummer VehiclesHAUPPAUGE, N.Y., Oct. 8 -- Audiovox Corporation (Amex: VOX) today announced they have been selected as the exclusive supplier of auto security systems for one of the hottest vehicles on the road today, the Hummer from AM General (AM). The announcement was made by Tom Malone, Vice President of Audiovox's Mobile Electronics Group, who noted that "the new contract with AM General strengthens our already broad Original Equipment Manufacturer (OEM) program and reinforces Audiovox's involvement in, and commitment to the OEM business." The Audiovox security system, which will be factory installed on all 1999 Hummers, features keyless entry with a 3-button transmitter, allowing the user to lock and unlock the doors, activate a chirp signal to confirm security status, flash the headlights and set off an alarm in the panic mode. A four-button transmitter is available to operate a garage door in addition to the aforementioned features. AM General's Dave Caldwell, Manager, Electrical Engineer said, "The design and flexibility of the Audiovox Security System allows us to expand the features we offer in the base Hummer system and gives us the capability to upgrade the system with no additional impact to the vehicle. Each system can also be dealer-programmed to suit the preferences of the individual owner." According to Malone, Audiovox was selected because the engineering people at AM General liked the OEM-look of its transmitter and the flexibility of more than one pad configuration. Malone added, "We offered AM General the flexibility of having more icons to select from on the system, providing them with a variety of features such as valet mode and dome light illumination. Our system will also allow them to use different security models with the same basic modules." Malone says that getting the AM General contract for security has multiple benefits. "It's exciting to be associated with a vehicle that has definitely caught the eye of the general public and the press." Audiovox Corporation is an international leader in the marketing of cellular telephones, auto sound, vehicle security, mobile video systems, and home and portable stereo systems. The Company conducts its business through two separate marketing groups. The Company markets its products, both domestically and internationally to the regional Bell Operating Companies, other carriers and their agents, distributors, retailers, car dealers and mass merchandisers. The Company markets its products under its own brands as well as functioning as an OEM supplier to several customers. Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks such as market volatility, price competition and new product introductions. These factors may cause actual results to differ materially from the results suggested in the forward-looking statements, including those risks detailed from time to time in the Company's reports on file at the Securities and Exchange Commission, including the Company's Form 10-K for the fiscal year ended November 30, 1997.