Printer Friendly

KELSEY-HAYES GROUP TO SUPPLY FOUNDATION BRAKE COMPONENTS TO SOUTH KOREAN AUTO MANUFACTURER

 DETROIT, March 1 /PRNewswire/ -- The Kelsey-Hayes Group will supply front calipers, rear drum brakes and brake proportioning valves to Kia Motors Corporation for use on the 1994 Sportage, a new small sport- utility vehicle from the South Korean automobile manufacturer. The announcement was made by Jim Pruneski, group president, Light Duty Brakes and Components, at the Society of Automotive Engineers International Congress & Exposition today in Detroit.
 Kelsey-Hayes will begin exporting components to South Korea in March for 1994 Sportage vehicle production beginning in April. The agreement is initially valued at approximately $4 million annually, with potential growth of up to $12 million annually by the 1996 model year.
 "Our relationship with Kia represents just one aspect of our aggressive global expansion efforts in the Pacific Rim," Pruneski said. "Our worldwide manufacturing capabilities have enabled us to serve customers in South Korea, China, Japan and throughout the Asia-Pacific area. Kelsey-Hayes foundation brakes customers from that region include Kia, Hyundai, Mazda and Honda. Beyond the Asia-Pacific region, we provide brake components to automotive manufacturers in North America, Eastern and Western Europe, the Soviet Union, South America and Mexico."
 The Kelsey-Hayes Light Duty Brakes and Components Group is one of the world's leading independent manufacturers of foundation brake products and systems, including integrated corner module assemblies, calipers, rotors, drums and knuckles.
 Kelsey-Hayes is a major supplier of conventional brakes, anti-lock brake systems and electrical control devices to the automotive industry worldwide. Kelsey-Hayes is a business of Varity Corporation (NYSE: VAT).
 -0- 3/1/93
 /CONTACT: Jill Lucius, 313-567-5022, or Tony Petrucci, 313-567-5007, both of Anthony M. Franco, Inc., for Kelsey-Hayes/
 (VAT)


CO: Kelsey Hayes; Kia Motors Corporation ST: Michigan IN: AUT SU: CON

DH -- DE006 -- 1488 03/01/93 14:03 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 1, 1993
Words:289
Previous Article:ART ANNOUNCES YEAR-END RESULTS, DECLARATION OF DIVIDEND AND MANAGEMENT CHANGES
Next Article:KELSEY-HAYES TO MANUFACTURE BRAKE COMPONENTS FOR CHRYSLER PL
Topics:


Related Articles
NISSAN SIGNS $12 MILLION PARTS AGREEMENT WITH U.S. COMPANY
KELSEY-HAYES AWARDED $12 MILLION CONTRACT TO SUPPLY NISSAN WITH ALUMINUM WHEELS
KELSEY-HAYES GROUP TO SUPPLY REAR BRAKE DRUMS TO SUBARU-ISUZU
KELSEY-HAYES INVESTS $6.6 MILLION IN WOODSTOCK, ONTARIO, FACILITY; RECEIVES $25 MILLION FORD CONTRACT
KELSEY-HAYES AWARDED BRAKE SYSTEMS ENGINEERING CONTRACT
VARITY CORPORATION RELEASE - VOLKSWAGEN
KELSEY-HAYES TO SUPPLY ABS TO LOTUS CARS LTD.
KELSEY-HAYES INKS ABS AGREEMENT WITH AUTOMOBILI LAMBORGHINI
KELSEY-HAYES AND ISUZU SIGN ABS AGREEMENT
KELSEY-HAYES ALL-SPEED ELECTRONIC TRACTION CONTROL ON 1996 FORD WINDSTAR

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters