McLaren Engines, Inc. Acquired by ASHA Corporation

12 January 1999

McLaren Engines, Inc. Acquired by ASHA Corporation; Enhanced Engineering Facilities to be based in Detroit

    LIVONIA, Mich.--Jan. 11, 1999--McLaren Engines, Inc., a complete powertrain design, fabricating, and testing facility serving automotive and marine Tier I and OEM companies, has been acquired by ASHA Corporation , a Santa Barbara, California-based automotive research and development company.
    McLaren Engines, Inc. (a privately held company) was originally founded as the U.S. base for the prominent McLaren Racing team. During the past two decades, McLaren Engines has serviced the leading names in the Automotive and Marine industries, and is currently involved in designing, fabricating, developing, validating, and certifying engines and powertrains, as well as related components and products, for automotive OEM companies throughout the world.
    "The complimentary nature of the fit between McLaren Engines, Inc. and ASHA Corporation is evident in the overlap both companies have in car product development/drivetrain clients. McLaren Engines and ASHA will mutually benefit from a sharing of sales, marketing, and research and development engineering staff. We expect this synergy to enhance the efficiencies, capabilities, and productivity of both companies," stated Wiley R. McCoy, President and C.O.O. of McLaren Engines, Inc.
    Gerard Uphaus, Vice President of Finance, added, "McLaren Engines has been seeking an optimum partner who could best take advantage of our worldwide client base, facilities, and engineering teams...and ASHA fit our criteria perfectly. Our combined assets allow us to position the new company as one of the foremost powertrain R&D facilities available to the automotive community."
    ASHA Corporation develops advanced technology products and automotive design and manufacturing techniques for the global automotive industry. Its award-winning GERODISC(TM) traction-control technology was first utilized on the 1999 Jeep Grand Cherokee. Currently, ASHA has twenty worldwide license agreements in place for 4WD, 2WD, and AWD platforms. This year's Automotive News PACE(TM) Award (Premiere Automotive Supplier's Contributions to Excellence) has recognized GERODISC(TM) as an award finalist for its excellence and innovation.
    Located in the heartland of the American automotive industry, McLaren Engines' complete powertrain design, fabricating, and testing facility occupies over 55,000 square feet of office and laboratory space. During its thirty year record of service, McLaren Engines has serviced the research, development, and testing needs of more than one hundred clients, and is an ISO-9001 registered firm.
    Visit McLaren Engines, Inc. on the Internet at www.mclarenengines.com, and ASHA Corporation at www.ashacorp.com.