Noble International, Ltd. Acquires Automotive Assets Of BEL-Tronics CSD Company
11 March 1999
Noble International, Ltd. Acquires Automotive Assets Of BEL-Tronics CSD CompanyBLOOMFIELD HILLS, Mich., March 11 -- Noble International, Ltd. ("Noble") (Amex: NIL) today reported that it has completed, through its subsidiary, Tiercon Industries, Inc., the acquisition of the automotive assets, inventory and certain equipment of BEL-Tronics CSD Company. The consideration for the acquisition is US$250,000, plus up to an additional US$500,000 over five years based upon future sales performance in excess of US$6.25 million. BEL-Tronics currently supplies a low-noise A.C. Amplifier to Delphi Harrison Thermal Systems. In addition, BEL-Tronics has developed a state-of- the-art Pulse Width Modulating Circuit ("PWM Module") to aid in the speed control of certain motors. The PWM Module will provide superior performance, reduced power usage, lower heat generation, simplified design and overall cost reduction. The greatest benefit realized from this new product will be the reduced system cost resulting from this integration of the superior electronics with the motor unit. Based on successful testing it is planned that the system be in commercial production by the fourth quarter of 1999. In announcing the acquisition Lloyd P. Jones, III, President of Noble said "The acquisition of the automotive assets of BEL-Tronics is a significant step in Noble's development of high-technology systems for the automotive industry. BEL-Tronics' development of the PWM Module is a considerable advancement in motor drive technology providing unique applications to the automotive industry, which we believe will result in tangible savings to the consumer." Delphi Thermal's Advanced Engineering Group has requested that following the purchase, Tiercon develop a new line of motor control circuits utilizing the BEL-Tronics technology that will improve Delphi's technology base and offer significant cost savings. Noble is a leading full-service supplier of automotive parts, component assemblies and value-added services to the automotive industry. As a supplier, Noble provides design, engineering, manufacturing, complete program management and other services to the automotive market. Noble delivers integrated component solutions, technological leadership and product innovation to original equipment manufacturers (OEMs) and Tier I automotive parts suppliers thereby helping its customers increase their productivity while controlling costs. Certain statements in this news release may be "forward-looking statements" within the meaning of Section 27A of the Securities and Exchange Act of 1933. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statements.