| PRESS RELEASE |
FOR IMMEDIATE RELEASE |
Jacobs Vehicle Systems, and VIE Group Co. Ltd., form Jacobs VIE Vehicle Systems Co. Ltd.
Zhuji City, Zhejiang Province, China, August 2nd, 2005 -- Jacobs Vehicle Systems™ and the VIE Group Co., Ltd. announced the formation of Jacobs VIE Vehicle Systems, Ltd., a Joint Venture based in Zhuji City China. Driven by unprecedented demand for the legendary Jake Brake® retarding and valve actuation technology, the partnership with VIE will provide an impressive array of vehicle retarding capabilities for the growing China market and other worldwide customers.
“Jacobs has been active in China for several years and we are pleased to expand our commercial activities and establish manufacturing capabilities with the VIE Group. This Joint Venture will support ongoing development work, and the rapid time to market demands of Chinese vehicle manufacturers and our other truck and engine customers”, noted Scott Wine, President of Jacobs. He further commented, “Jacobs VIE Vehicle Systems is a key component of our global growth strategy to be the world’s leading producer of vehicle retarding and valve actuation technology.” Mr. Chen Li Xiang, the Chairman of VIE, stated, “A commitment to cooperation, precise management, and strong personal development will develop great brands and ensure the Joint Ventures success.”
The Joint Venture will benefit from Jacobs and VIE’s respective engine brake, electromagnetic driveline, and exhaust brake technology and manufacturing capability allowing them to address the truck, coach and bus markets globally. Additionally, their strong customer relationships complement one another enabling superior OEM and end-user service and support.
Jacobs and VIE have filed all paperwork for official approval by the Chinese government and expects to have Jacobs VIE Vehicle Systems operating within two months.
About VIE
VIE Group Co., Ltd. designs and manufactures commercial vehicle and automobile components, including air brake valves, power steering pumps, vacuum and clutch boosters, ABS system parts, disc brakes, automatic adjusters, electric retarders and exhaust brakes. VIE supplies all major truck and bus manufacturers in China, including several Japanese OEMs. VIE’s distribution and sales support network includes 45 distribution centers and 31 sales offices throughout China. VIE is ISO9002, QS9000, VDA 6.1 certified.
About Jacobs
With sites in China, Mexico, Europe and Japan, Jacobs Vehicle Systems is headquartered in Bloomfield Connecticut U.S.A., where it has a 260,000 square foot design, testing and manufacturing facility. Registered to the ISO 9001:1998, QS9000:2000 and TS16949:2002 standards, Jacobs Vehicle Systems is the world’s leading producer of vehicle retarding and valve actuation technologies. The Jake Brake® product line is used by all North American heavy-duty diesel engine manufacturers as well as Hino, Daewoo, Hyundai and Mitsubishi in Asia; Renault V.I., DAF, and PACCAR in Europe; and DaimlerChrysler globally. For more information, visit www.jakebrake.com
For further information contact: Robert Perkins, VP of Marketing and Business Development.
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22 East Dudley Town Road - Bloomfield, CT 06002 - Phone: 860-243-1441
A subsidiary of Danaher Corporation www.jacobsvehiclesystems.com Jake Brake®, Jacobs Engine Brake®, Jacobs Exhaust Brake®, and Jacobs Vehicle Systems™, are registered trademarks of Jacobs Vehicle Systems, Inc.
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