Terion and Wabash Announce Strategic Alliance
13 April 2000
Terion and Wabash Announce Strategic Alliance
MELBOURNE, Fla. and LAFAYETTE, Ind., April 13 Terion, Inc.
and Wabash National Corporation (NYSE: WNC) announced that the companies have
signed a non-binding letter of intent to form a strategic alliance serving the
transportation industry. The companies plan to co-develop and market advanced
trailer management systems that provide continuous and comprehensive
visibility into trailer operational, functional and performance attributes
that advance trailer utilization and fleet productivity. The formation of the
strategic alliance is subject to the execution of a definitive agreement
between the parties.
The technology base for the advanced trailer management system would be
Terion's FleetView(TM) Trailer Monitoring System and Wabash National's Smart
Trailer(TM) electronic control and monitoring technology for trailers. The
two companies intend to structure an alliance that integrates the equipment
readiness and performance monitoring technologies of Wabash National with the
trailer tracking, communications and operational monitoring technologies of
Terion. The companies propose to offer advanced products and services as an
OEM installation, as well as on a retrofit basis.
Headquartered in Melbourne, Florida, Terion, Inc. is an industry leading
business-to-business wireless application service provider using two-way
wireless communications. The Company currently operates in the United States,
with commencement of service in Canada scheduled for the third quarter of 2000
and in Mexico during 2001. The Company's patents and other intellectual
properties include digital high-frequency technologies originally developed
under contract by Harris Corporation as a nationwide backup communication
system. Terion has adapted this technology to commercial application,
providing a low-cost communication alternative with comprehensive geographic
coverage. The Company also has applications and intellectual property in
cellular and PCS technologies. Terion is initially focusing its product
development and business strategy toward meeting the needs of transportation
customers in the NAFTA trade region, followed by additional markets both
domestically and internationally.
Terion's investors and strategic partners include Penske Capital Partners,
Delphi Automotive Systems, Detroit Diesel Corporation, KteCom, LLC, a company
affiliated with Knight Transportation, HVFM-II, LP in which Harris Corporation
is the major investor, and Madison Venture Corporation of Vancouver, Canada.
The Company's goal is to combine the best People, Products and Partners to
offer its customers world-class wireless information solutions.
Headquartered in Lafayette, Indiana, Wabash National Corporation designs,
manufactures and markets standard and customized truck trailers under the
Wabash and Fruehauf trademarks. The Company believes it is the world's
largest manufacturer of truck trailers, the leading manufacturer of composite
trailers and through its RoadRailer(R) products, the leading manufacturer of
bimodal vehicles. The Company's wholly owned subsidiary, Fruehauf Trailer
Services, Inc., is one of the leading retail distributors of new and used
trailers and aftermarket parts.
This press release contains forward-looking statements and actual results
may differ materially from those expressed in or implied by the forward-
looking statements. Investors are urged to consider these statements in light
of Wabash's "Risk Factors" that are contained in its filings with the
Securities and Exchange Commission.