Williams Controls Expands Electronic Throttle Control Technology Into New Market
2 June 1999
Williams Controls Expands Electronic Throttle Control Technology Into New Market
Production to Begin in October for Industrial and Lift Trucks
PORTLAND, Ore., June 1 -- Williams Controls, Inc.
today announced that it has been awarded a contract to
manufacture electronic throttle controls (ETCs) for Power Great Lakes, Inc.
(PGL), a leading supplier of powertrain systems to the industrial and lift
truck market. It is the first significant entry into this market segment for
Williams Controls, a longtime market leading supplier of ETCs to the heavy
truck market.
The industrial and lift truck market is in its early stages of adopting
electronic throttle control technology for its powertrain systems. The
contract with PGL is for $1 million in first year revenues, and is estimated
to grow to $4 million annually by 2003. Production is scheduled to begin in
October 1999.
"Our ability to design and manufacture an ETC built to suit PGL's exact
requirements was the key to securing this business," stated Thomas W. Itin,
chairman and chief executive officer of Williams Controls. "The ergonomic and
cost expectations of PGL were a challenge that Williams was able to meet and
exceed, and we are pleased to make this breakthrough with one of the leading
suppliers of powertrain systems to this important market. This contract is
the second major new market from which the company has received an initial
order in the last two weeks. On May 19, Williams Controls announced that it
had received two contracts to supply ETCs to the automotive market, for the
Chevrolet Corvette and various GM trucks."
"We are always looking for new and innovative ways to compete in the
powertrain systems market," stated Gary Winemaster, president of Power Great
Lakes. "The electronic throttle control redesigned by Williams Controls
specifically for the lift truck market will give PGL a competitive advantage
in its core market."
"Williams Controls and Power Great Lakes have now designed a cost
effective drive-by-wire electronic foot pedal design for the industrial and
material handling markets," said Timothy J. Marker, vice president -- sales
and marketing for Williams Controls. "In this contract, Williams brings its
years of experience and market leading position in ETC development and
manufacturing for the heavy truck market together with Power Great Lakes, a
leader in the industrial engine supply industry. Together, we will continue
to explore ways to further develop this market."
Williams Controls is a manufacturer and integrator of sensors, controls
and communication systems for the transportation and communication industries.
For more information, you can find 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.