Williams Controls Subsidiary Signs Agreement With Volvo Truck
10 March 1999
Williams Controls Subsidiary Signs Long Term Agreement With Volvo Truck for Electronic Throttle ControlsPORTLAND, Ore., March 9 -- Williams Controls, Inc. announced that its subsidiary, Williams Controls Industries, Inc. in Portland, Oregon, has signed a five year agreement to supply electronic throttle controls (ETCs) to Volvo Truck Corporation. Under the agreement, Williams Controls Industries will provide ETC systems to Volvo truck and bus factories around the world, including facilities in North America, Europe, Brazil, India and Australia. Volvo Truck Corporation is currently the third largest manufacturer of heavy- and medium-duty trucks, behind Daimler Benz and the combined Peterbilt and Kenworth units of PACCAR. Currently, Williams Controls supplies ETCs and related products to Volvo, primarily in Europe and in Volvo's North Carolina facility. This long term agreement broadens the current supplier agreement to cover the growing South American market and other locations mentioned above. Williams Controls Chairman and CEO Thomas W. Itin stated, "We are pleased to have reached this five year strategic supplier agreement with Volvo Truck. Through the recent announcement that Volvo is selling its automobile unit to Ford Motor Company, it is clear that Volvo has made a major commitment to the heavy- and medium-duty truck business. We are excited to be a part of this commitment through our long term agreement for electronic throttle controls." Williams Controls Industries Vice President and General Manager Dennis C. Knowlton stated, "Through a combination of proactive customer service, shared cost savings from new pedal designs, and a commitment to quality evidenced by our QS-9000 certification, Williams Controls Industries has created an environment of confidence and partnership that resulted in this long term agreement with Volvo Truck. This stability through the term of this contract will allow our two organizations to work together, sharing our technology and thought processes, to develop state of the art products that will meet Volvo's current needs, while allowing Williams the flexibility to anticipate future product needs, then design and manufacture the appropriate solutions." Williams Controls Vice President -- Sales and Marketing, Timothy J. Marker stated, "Our strategy is to follow our key customers as they develop facilities around the world, supplying them with innovative sensors and ETC systems developed to their specifications, with quality and service that is unmatched. Our relationship with Volvo is evidence of this plan and we will continue to seek out similar opportunities to partner with our other key customers in a similar fashion." Williams Controls is a leading manufacturer and integrator of innovative sensors, controls and communications systems for the transportation and communications industries. For more information, you can reach the Company at http://www.wmco.com on the World Wide Web. Forward-looking statements in this news release, if any, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the statements, including the impact of changing economic or business conditions, the impact of competition, the availability of financing, the success of products in the marketplace, other factors inherent in the industry and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.