AimRite Holdings Corporation Allocates Funds for Project with Visteon
2 June 1999
AimRite Holdings Corporation Allocates Funds for Project with Visteon
SAN DIEGO--June 2, 1999--AimRite Holdings Corporation is pleased to announce that it had a very successful meeting last week with Visteon Automotive Systems, the second largest supplier of automotive systems to original equipment manufacturers in North America. Visteon, which is an enterprise of Ford Motor Company , has targeted a very popular vehicle for installation of a COAST suspension control system. AimRite has agreed to receive the vehicle later this month and has allocated funds to insure the project's success. The staff from AimRite, which visited Visteon, was received exceptionally well and had nothing but praise for the Visteon personnel and their forward thinking.AimRite has spent many years developing and patenting the COAST(tm) technology and is now making the transition from an R&D company into a major supplier of COAST suspension control systems. AimRite has developed a substantial OEM customer base in the automotive, truck, bus and RV industries and the challenge now is to develop production capacity to fill the growing demand for its COAST product line.
The production COAST(tm) suspension control system consists of simple but very powerful hydraulic control units at each wheel that incorporate computers which are connected to a central computer via a high speed automotive digital data bus. Each wheel computer optimally updates the control forces for that wheel at a rate of 400 times per second. To be more specific, every 2.5 milliseconds each wheel computer reads its current position, exchanges data on the data bus, performs several thousand calculations and then adjusts the compression and rebound control forces. According to Jim Hamilton, AimRite's Director of Engineering, "To get an idea of how fast COAST works, imagine that you are driving down the freeway at 70 miles per hour. For every rotation of the tire, the COAST computer will have repeated the above update cycle over 25 times." As Lonnie Woods, Director of COAST Operations puts it, "This awesome power will make COAST the electronic ride control technology of choice for manufacturers well into the future."
AIMRITE HAS A WEBSITE THAT CAN BE VISITED AT WWW.AIMRITE.COM.
This release is intended as a forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to (i) The ability to produce the COAST Suspension Technology in the future, (ii) Unexpected changes in the suspension market, (iii) The success of the Company's expansion and marketing strategies (iv) Competition with conventional suspension systems (v) The ability of the Company to motivate and retain the services of its key personnel and hire additional qualified personnel to meet evolving staffing needs and (vi) unexpected challenges to the patents.