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BEI Technologies, Inc. Marks Shipment of Ten Millionth Automotive
GyroChip(R); Increases Manufacturing Capacity
SAN FRANCISCO, July 23 /PRNewswire-FirstCall/ -- BEI Technologies, Inc.
(NASDAQ:BEIQ) will record shipment of the ten millionth GyroChip automotive yaw
rate sensor manufactured by its Systron Donner Automotive Division. According
to Charles Crocker, Chairman and CEO, "Systron Donner has achieved this
production milestone in a relatively short time. It was in October of 2002
when we announced the shipment of the five millionth GyroChip. We have
continued to increase manufacturing capacity and reduce cost by utilizing
technology to upgrade our sensors and electronics, while outsourcing non-core
manufacturing. The result has been increasing global acceptance of our
remarkable sensors, and we are pleased to announce the need for further
manufacturing capacity."
Based on understandings reached with customers, BEI will increase manufacturing
capacity for its quartz fork and packaged nuggets to provide for increasing
global demand for stability control braking systems. BEI will put in place
approximately one million units of additional annual capacity per year in the
core technology. This addition is necessary to meet expected combined customer
requirements for BEI's automotive GyroChip sensors. The increase in capacity
will require BEI to invest a further $3.6 million in equipment at its Systron
Donner Automotive Division in Concord, California. According to Dr. Asad M.
Madni, President and COO, "We expect to begin to utilize a portion of the
increased production capacity in the December 2004 timeframe."
BEI Technologies, Inc. is an established manufacturer of electronic sensors,
motors, actuators and motion control products used for factory and office
automation, medical equipment, military, aviation and space systems. In
addition, sales to manufacturers of transportation equipment including
automobiles, trucks and off-road equipment have become a significant addition
to the Company's business in recent years. The Company's micromachined quartz
yaw rate sensors are being used in advanced vehicle stability control systems
and a significant increase in the production of those sensors has been in
progress since the middle of 1998. BEI also manufactures electronic steering
wheel position sensors, seat-memory modules; throttle position and pressure
sensors and other devices used in automotive systems.
Except for historical information, this news release may be deemed to contain
forward-looking statements that involve risks and uncertainties, including
statements with respect to future timely development, acceptance and pricing of
new products; potential impact of competitive products and their price; the
ability to manufacture products in sufficient volume on an efficient and timely
basis; general economic conditions as they affect the Company's customers and
strategic partners, as well as other risks detailed from time to time in the
Company's reports to the Securities and Exchange Commission, including the
Company's Form 10-K for fiscal 2001.
DATASOURCE: BEI Technologies, Inc.
CONTACT: John LaBoskey, Senior Vice President/CFO of BEI Technologies,
Inc., +1-415-956-4477
Web site: http://www.bei-tech.com/