Actuant Division Wins New Convertible Top Program.Business Editors MILWAUKEE--(BUSINESS WIRE)--Dec. 18, 2000 Applied Power Inc. d/b/a Actuant Corporation (NYSE NYSE See: New York Stock Exchange :ATU (ADSL Transceiver Unit) A device that provides ADSL modulation of the telephone line. The device at the telco side is the ATU-C (Central), which is a line card plugged into the DSLAM. ) announced today that its Power-Packer division has received a letter of intent to produce the convertible top actuation system for the Volkswagen Beetle This article is about the original Volkswagen Beetle. For the one introduced in 1997, see Volkswagen New Beetle. The Volkswagen Type 1, more commonly known as the Beetle convertible. This program is an addition to the programs announced by Actuant on November 13, 2000. The Beetle will be produced in Mexico in a combined effort between Volkswagen and Karmann GmbH, and includes Power-Packer's electro-hydraulic system to actuate the convertible top. Commenting on the award, Robert C. Arzbaecher, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Actuant stated, "This award is a very important win for Actuant. First, it represents additional confirmation of the strong growth dynamics of the global convertible top and retractable re·tract v. re·tract·ed, re·tract·ing, re·tracts v.tr. 1. To take back; disavow: refused to retract the statement. 2. top automotive markets; this program alone expands the global convertible market by at least 5%. Second, this program represents Actuant's second recent win of a top actuation system to be produced in North America." Actuant will be announcing its first quarter earnings for fiscal 2001 on Wednesday, December 20, 2000 prior to the market opening. Additionally, Actuant will be holding a conference call with analysts at 10am CST CST abbr. 1. Central Standard Time 2. convulsive shock treatment CST Central Standard Time Noun 1. on December 20, which will be broadcast at www.vcall.com and www.actuant.com. Actuant, headquartered in Milwaukee, Wisconsin, is a diversified industrial company with sales approximating $500 million and operations in 19 countries. The Actuant businesses are market leaders in highly engineered position and motion control systems and branded hydraulic and electrical tools. Products are offered under such established brand names as Enerpac, Gardner Bender, Mox-Med, Milwaukee Cylinder, Nielsen Sessions, Power-Packer, and Power Gear. For further information on Actuant and its business units, visit the Company's website at www.actuant.com. |
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