Unique Mobility, Inc. Announces Departure of Michael G. Franklin,VP Electronics Manufacturing
20 June 2000
Former Deere & Co. Executive William C. Moffitt Named Interim Head Of Franklin Manufacturing UnitGOLDEN, Colo. - Unique Mobility, Inc., a developer of alternative energy technologies, announced today that Michael G. Franklin, Vice President of Electronics Manufacturing and President of its Franklin Manufacturing unit, will be leaving the Company in July to pursue other interests. Mr. Franklin also resigned as a Director of Unique Mobility, Inc., reducing the size of Unique's Board of Directors to five members. William C. Moffitt, 55, was named interim General Manager of Franklin Manufacturing. Mr. Moffitt has more than 30 years of experience managing high volume manufacturing operations, including 27 years with Deere & Co. where he held a series of progressively responsible management positions, including Works Manager of Deere's Davenport Works and Horicon Works, and most recently as Vice President and General Manager of Funk Manufacturing Company, a wholly owned subsidiary of Deere & Co. Since leaving Deere & Co., Mr. Moffitt has consulted with companies in transition, most recently serving as interim Plant Manager of Pentair Electronic Packaging, a high-volume manufacturer of electronic assembly enclosures. William G. Rankin, Unique's Chairman and Chief Executive Officer, said, "Mike Franklin has done an exceptional job of growing our electronic manufacturing operation since our acquisition of Franklin Manufacturing Company in 1998 and we are grateful for his dedicated service. We are extremely pleased that Bill Moffitt, a seasoned manufacturing executive, has joined our team to assist us in this transition. Our electronics operations are continuing to grow at a rapid rate, and Bill's management experience will be instrumental in leading the organization during this period of rapid growth and expansion." Unique Mobility, Inc. is a leading developer and manufacturer of power dense, high efficiency motors, gear assemblies and electronic assemblies for the automotive, aerospace, telecommunications, medical and industrial markets. A major emphasis of the Company is in applying its systems to the emerging hybrid-electric and fuel cell electric vehicle market. The Company's headquarters and engineering and product development center are located in Golden, Colorado. Manufacturing facilities are located in Frederick, Colorado (electric motors and gear assemblies) and St. Charles Missouri (electronic assemblies and wire harnesses). This press release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the Risk Factors section of the Registration Statement on Form S-3 (File No. 333-78525) filed by the Company with the SEC, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including the Company's ability to be profitable, its ability to obtain additional financing, the Company's reliance on major customers and suppliers and the possibility that product liability insurance may become unavailable. These forward-looking statements represent the Company's judgment as of the date of the press release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.