Gentex's Success in Korea Continues
16 January 2001
Gentex's Success in Korea Continues
Begins Shipping Automatic-Dimming Mirrors
For the Ssangyong Musso and New Korando
ZEELAND, Mich., Jan. 16 Gentex Corporation, the Zeeland,
Michigan-based manufacturer of automatic-dimming rearview mirrors and
commercial fire protection products, has begun shipping interior automatic-
dimming mirrors to South Korea for Ssangyong Motor Company's Musso and new
Korando, two 4x4 SUV-type vehicles manufactured and marketed in Korea.
The two new programs typify Gentex's unprecedented success in the Korean
marketplace, where the Company lists sales to every Korean vehicle
manufacturer across 15 different vehicle nameplates.
Gentex's Night Vision Safety(TM) (NVS(R)) Mirrors are an active crash-
avoidance safety feature. They automatically darken to reduce glare from the
headlamps of vehicles approaching from the rear. The brighter the glare, the
darker the mirrors become, making nighttime driving safer.
Gentex's base automatic-dimming mirror is standard on the Musso and
Korando. The mirrors are shipped to Schefenacker Poong Jeong Ltd., the
company that supplies mirror systems to Ssangyong, and has been an exclusive
Gentex partner since 1993.
"The Musso and Korando are great vehicles, powered by Mercedes-Benz
engines," said Gentex Executive Vice President Ken La Grand. "These are
large, new programs for Gentex and, as such, they typify the growing demand
for our mirrors in Asia. Our Asian sales are currently growing at
approximately 80 percent a year, and we see this trend continuing for the next
several years."
Gentex estimates that its automatic-dimming rearview mirrors can be found
on nearly 15 percent of the vehicles sold domestically in Korea. The Company
has launched seven new mirror programs there in the last two years, and its
mirrors can be found on vehicles in virtually every segment of the market,
including luxury vehicles, midsize sedans, minivans, trucks and SUVs.
Shipments to Korea in 2000 exceeded 120,000 units.
"Korea and the Asian market in general hold great potential for us," said
La Grand. "It's adopting our technology in a manner and rate similar to that
of the North American marketplace back in the late '80s when we first
introduced our electrochromic, automatic-dimming mirror products."
Gentex Corporation is an international company that
provides high-quality products to the worldwide automotive industry and North
American fire protection market. The Company develops, manufactures and
markets proprietary electro-optic products, including interior and exterior
electrochromic, automatic-dimming Night Vision Safety(TM) (NVS(R)) automotive
rearview mirrors that dim in proportion to the amount of headlight glare from
trailing vehicle headlamps, and an extensive line of fire protection products
for commercial applications.
Gentex was the first company in the world to successfully develop and
produce a commercial electrochromic mirror for the motor vehicle industry.
The Company is the leading supplier of these mirrors to the worldwide
automotive industry. Gentex OEM customers include Audi, Bentley, BMW, Daewoo,
DaimlerChrysler, Fiat, Ford, General Motors, Hyundai, Infiniti, Kia Motors,
Lexus, Mitsubishi, Nissan, Opel, Porsche, Rover, Rolls Royce and Toyota.
Gentex aftermarket/distributor customers include Gulf States Toyota
Distributors, Mito Corporation, Southeast Toyota Distributors, Subaru
Distributors NE and Toyota Motor Sales USA.
Founded in 1974, Gentex operates out of four facilities in Zeeland,
Michigan; an automotive sales office in Livonia, Michigan; automotive sales
and engineering subsidiaries in Germany, Japan, the United Kingdom and France;
and four regional U.S. sales offices for the Fire Protection Products Group.
The Company is recognized for its quality products, its application of world
class manufacturing principles, for its commitment to developing and
maintaining a highly skilled workforce, and for encouraging employee ownership
of the Company's stock.