Amerigon Awarded Climate Control System Development Contracts
5 November 1998
Amerigon Awarded Climate Control Seat System Development Contracts by Three of the Largest European Automotive Companies
IRWINDALE, Calif.--Nov. 5, 1998--Amerigon Incorporated today announced that it has been engaged by three of the largest European automotive companies to integrate its proprietary Climate Control Seat(tm) (CCS(tm)) system into their seats for a possible launch in the 2001 and 2002 model years.
The CCS(tm) system is the world's first active temperature control system for motor vehicle seats, offering heating, cooling and ventilation.
In October, the Company announced that Johnson Controls, Inc. had selected Amerigon to supply the CCS(tm) system to be installed in seat platforms of a major North American auto manufacturer, starting in the 2000 model year.
Dr. Lon Bell, Amerigon's Chairman and Chief Executive Officer, said, "This is excellent news coming on top of last month's Johnson Controls announcement. Design integration is a normal pre-production step, and while it does not assure eventual production, it is an important milestone in the process.
"We are extremely pleased to be working with these European automotive companies. It is exhilarating to know that the CCS(tm) system is spreading rapidly overseas, marking another major milestone for Amerigon."
According to Bell, Amerigon is also working with other major North American, European and Pacific Rim automotive companies on programs to introduce the CCS(tm) system on a variety of automotive seats in the 2001, 2002 time frame. Bell noted that last year 52 million vehicles were produced worldwide, with approximately 15 million being produced in the United States and Canada and 18 million being produced in Europe.
For these, over 10 million conventional seat heaters were installed. Amerigon is the only company to offer an automotive seat temperature control system that offers heating, cooling and ventilation.
Due to competitive reasons, Amerigon is unable to identify the companies designing the CCS(tm) system into their seating at this time.
Amerigon, an emerging player in the global automotive industry, develops and markets proprietary high-technology products for the automotive OEM. In addition to the CCS(tm) system, the company's products include its proprietary AmeriGuard(tm) Radar System to extend the driver's field of view in such vehicle applications as enhanced parking aids, back-up warning systems, and side object detection.
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements, including, without limitation, demand for the company's products, uncertainties in the development of high technology products, risks and delays in obtaining customer orders, technological change, competition and other risks and uncertainties that are detailed in the company's Annual Report on Form 10-K and other reports filed by it with the Securities and Exchange Commission.