McLaren Traction and Delco Remy International Unit Join Forces
4 November 1999McLaren Traction Technologies and Delco Remy International Unit Join Forces to Bring Gerodisc to Automotive Aftermarket
LIVONIA, Mich., Nov. 3 -- McLaren Traction Technologies, a leader in the design and development of advanced automotive traction control systems, and Tractech, a subsidiary of Delco Remy International, Inc., , have announced a joint project to introduce McLaren's patented Gerodisc technology into aftermarket and niche market applications. Gerodisc is a patented, state-of-the-art traction control device featuring a unique tunable system that continuously monitors driving conditions and changes the power distribution to each driving wheel accordingly. This technology is currently licensed to tier-one and OEM companies and is in production as a key component of Daimler Chrysler Jeep's Grand Cherokee, Jeep Quadra-Trac II transfer case and the Jeep Quadra-Drive full time four wheel drive system. It was designed and developed by McLaren Traction Technologies Division, formerly ASHA Corporation. Tractech, who will manufacture Gerodisc, is widely known for marketing aftermarket traction devices, including the popular Detroit Locker and the Detroit Gearless, to car enthusiasts and racers throughout the world. Ralph McGee, president and CEO of Tractech said, "This partnership opens important new opportunities for Tractech. McLaren's reputation for quality enhances the value of this product and offers great potential for us in the aftermarket." Both companies are SEMA (Specialty Equipment Market Association) members and are ISO 9001 and QS 9000 certified. McLaren Traction Technologies is a 1999 Automotive PACE (Premier Automotive Suppliers Contribution to Excellence) award winner for its patented Gerodisc traction control system. President and CEO of McLaren Automotive Group, Wiley McCoy, stated, "McLaren continues to seek new applications for this revolutionary technology. This follows our strategy of licensing capable companies to manufacture and market Gerodisc systems." Additional niche vehicle applications for the Gerodisc will be developed when this product is brought to the aftermarket. McLaren Engines and McLaren Traction Technologies are divisions of McLaren Automotive Group. The stock is traded on the Nasdaq Small Cap Market . 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. 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.