Delco Remy International Unit and ZEUS Enter Into Agreement
3 November 1999
Delco Remy International Unit and ZEUS Enter Into Agreement
LAS VEGAS--Nov. 2, 1999--Smart Start(TM) is the First and Only In-Solenoid Vehicle Anti-Theft
Device
Delco Remy America (DRA), a unit of Delco Remy International Inc., and ZEUS today announced that they have entered into a Technology Development and Distribution Agreement to develop Smart Start(TM), the first embedded in-solenoid, multi-feature control and diagnostic capable technology for starter motor products. With the development and introduction of the Smart Start(TM) technology, the companies will be combining two large markets -- vehicle security and starter/solenoid -- into a single value enhanced, feature rich product platform.
According to the FBI, over 1.5 million vehicles were stolen in 1997. During that same time period, U.S. consumers spent over a half billion dollars on vehicle security products.
"Smart Start(TM) is going to revolutionize the automotive security industry and the starter solenoid market," said Steve Kenney, chief executive officer of ZEUS. "By embedding the vehicle security features inside the body of the starter solenoid, Smart Start(TM) will overcome the shortcomings found in existing OE and aftermarket security products."
Unlike most vehicle security products on the market today, Smart Start(TM) meets the requirements of law enforcement agencies and insurance companies to successfully curtail vehicle theft. A primary requirement for a successful vehicle security device includes significantly increasing the time it takes to defeat an anti-theft device. An additional essential requirement includes not being able to defeat the security device from inside the vehicle, a fault found in most alarms and anti-theft devices on the market. In order to defeat the Smart Start(TM), a vehicle thief must change the starter solenoid motor, a task that takes a considerable amount of time.
In addition to theft deterrence, Smart Start(TM) offers numerous additional features that are favorable to vehicle owners and manufacturers. Since its invention the starter solenoid has always been a simple single function electromechanical device. Smart Start(TM) is the first multi-featured, value-added enhancement in starter solenoid technology providing such features as re-start prevention, over cranking prevention, thermal overload protection and remote start.
"This is DRA's latest co-development effort in automotive aftermarket and original equipment products," said Tom Snyder, president of Delco Remy International Inc. "We immediately recognized the market potential of the Smart Start(TM) technology in the solenoid retrofit, replacement and OE markets.
DRA and ZEUS are anticipating shipping Smart Start(TM) in the second half of the year 2000.
DRA and ZEUS will demonstrate Smart Start(TM) at the Automotive Aftermarket Industry Week show (booth No. 3072 in the Sands Expo Center, Las Vegas, NV). A joint press conference will also be held Tuesday, Nov. 2 at 1:00 p.m. in press room No. 103.
ZEUS is a technology driven, development company based in San Diego. The company has developed Smart Start(TM), the first and only embedded in-solenoid, multi-feature control and diagnostic capable technology available for starter motor products. Additionally, the company has introduced ZEUS and THOR aftermarket vehicle security products.
Delco Remy America is a subsidiary of Delco Remy International, Inc. (DRI). Delco Remy International Inc., headquartered in Anderson, Indiana (USA), became a public company with an initial public offering of stock in December 1997. The company designs, manufactures, remanufactures and distributes electrical, powertrain/drivetrain and related components for automobiles and light trucks, medium and heavy-duty trucks and other heavy-duty off-road vehicles. Products include starter motors, alternators, engines, transmissions, torque converters, fuel systems and traction control systems. The company serves the aftermarket and original equipment manufacturer market, principally in North America, as well as in Europe, Latin America and Asia Pacific. DRI can be found on the Internet at www.delcoremy.com.
Statements in this press announcement, which are not historical facts, are forward-looking statements that involve certain risks and uncertainties including, but not limited to risks associated with the uncertainty of future financial results, acquisition, additional financing requirements, development of new products and services, the effect of competitive products or pricing, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission.