Aeroquip To Open New Facility in Germany To Serve Volkswagen.MAUMEE, Ohio--(BUSINESS WIRE)--Nov. 3, 1997--Aeroquip-Vickers, Inc. (NYSE NYSE See: New York Stock Exchange :ANV ANV Army of Northern Virginia ANV Anvik, AK, USA (Airport Code) ANV Autoritatea Nationala a Vamilor (Romania) ANV Alaska Native village (US) ANV Association of Napata Volunteers ) announced today that its Aeroquip subsidiary will open a new automotive facility in Lower Saxony Lower Saxony, Ger. Niedersachsen (nē`dərsäk'sən), state (1994 pop. 7,480,000), 18,295 sq mi (47,384 sq km), NW Germany. Hanover is the capital. (Wolfsburg), Germany. "Earlier this year we announced our automotive strategy to focus on fluid connectors, a core business of Aeroquip," said Darryl F. Allen, chairman, president and chief executive officer of Aeroquip-Vickers, Inc. "The new Wolfsburg facility is part of that strategy and will enable us to better supply automotive manufacturers in Germany." Automotive fluid connectors -- hose and the attached fittings -- are used for conveying fluids in air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. , power steering power steering n. A device driven by the engine of a vehicle that facilitates the turning of the steering wheel by the driver. power steering Noun and oil cooling Oil cooling is the principle behind the device oil cooler. It refers to a process whereby heat is displaced from a 'hotter' object, into a cooler oil. The oil carrying the displaced heat usually passes through a cooling unit such as a radiator or less commonly a gas decompresser. systems in cars, light trucks, vans and sport utility vehicles This page lists sports utility vehicles currently in production (as of April 2007), as well as past models. The list includes crossover SUVs, Mini SUVs, Compact SUVs and other similar vehicles. . Howard Selland, executive vice president of Aeroquip-Vickers and president of Aeroquip, said that the facility's initial business will be producing air conditioning hose and tube assemblies for Volkswagen AG Volkswagen AG (VW) Major German automobile manufacturer. It was founded in 1937 to mass-produce a low-priced “people's car” (Volkswagen). After World War II the company was rebuilt with Allied help, and within a decade it was producing half of West Germany's of Wolfsburg. These products will be equipped on "A4" platform vehicles being produced by Volkswagen, a major Aeroquip Automotive Group customer, Mr. Selland said. Facility Enhances Customer Service "By investing in the Wolfsburg plant -- which is located five miles from Volkswagen's assembly facility -- we have demonstrated our commitment to providing Volkswagen with just-in-time hose assemblies -- a major requirement in serving this automotive customer," Mr. Selland said. "Our proximity to Volkswagen will also help this customer achieve its goal of integrating key suppliers with manufacturing and development processes in order to improve its products and reduce development time. "This new facility will provide increased customer service and other logistical advantages to Volkswagen in Germany. In addition, our commitment should further enhance our relationship with Volkswagen in Brazil, Mexico, South Africa and Spain, and position us as the preferred supplier for additional new program and product considerations," Mr. Selland said. Production To Begin in 1998 The 7,800-square-meter Wolfsburg facility will begin production in the second quarter of 1998. Initially, the facility will employ 50 people. When fully operational, it is estimated the facility will employ 260 people. Aeroquip-Vickers, Inc. is two companies, Aeroquip Corporation and Vickers, Incorporated, worldwide manufacturers and distributors of engineered components and systems to the industrial, automotive and aerospace markets. CONTACT: Aeroquip-Vickers, Inc., Maumee Investor: William R. Ammann, 419/867-2215 Media: Lee V. Brower 419/867-2573 |
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