Tagged: EUT

Jebsen tedrive Joint Venture Established to Bring tedrive Steering’s Advanced Steering Gear Technologies to China

SHANGHAI, Aug. 26, 2014 /PRNewswire/ — Jebsen Automotive Technik (JAT) and tedrive Steering are pleased to announce today plans to establish a 50:50 joint venture “Jebsen tedrive Steering Systems”. The joint venture aims to bring tedrive Steering’s advanced steering technologies to China. The new company will be formally registered by year-end in Shanghai, from where it will spearhead the localization of tedrive Steering’s full product range.

Top executives from Jebsen & tedrive Steering celebrating the creation of Jebsen tedrive Steering Systems at the signing ceremony in Germany.

Top executives from Jebsen & tedrive Steering celebrating the creation of Jebsen tedrive Steering Systems at the signing ceremony in Germany.

The new joint venture will draw on the operational knowledge and China-wide sales and service network of JAT and the technological expertise of tedrive Steering to satisfy the growing demand for high-quality automotive components in China. Jebsen tedrive Steering Systems will focus on supplying German-engineered steering systems, with plans to localize the manufacturing in China.

“As an established provider of advanced steering technologies to the global vehicle market, at tedrive Steering we are pleased to combine our strengths with those of Jebsen Automotive Technik in order to grow our business in China. With the support of JAT, we will develop the market for our innovative steering technologies in China and help the local automotive sector better serve its domestic and international customers,” said Pavel Gilman, Director, Corporate Strategy and in charge of founding the new joint venture with Jebsen.

tedrive Steering and JAT are confident of the continuing growth of China’s auto sector. Already the world’s largest automotive market, it grew almost 14% in 2013 according to the China Association of Automobile Manufacturers (CAAM), with 21.98 million vehicles sold. Sales for 2014 are expected to show a further 8 to 10% growth.*

With more than 60 years of experience, tedrive Steering is a global leader in the development, engineering and production of steering systems and components. Its product portfolio includes advanced steering technologies for all vehicle segments: from mechanical, hydraulic and electronic rack-and-pinion steering systems for passenger cars and light commercial vehicles to state-of-the-art recirculating ball steering gear technology for commercial vehicles and buses.

“Jebsen Automotive Technik and tedrive Steering are committed to ensuring that Jebsen tedrive Steering Systems develops into the high-quality leader in steering systems for China. By making full use of the nationwide Jebsen Automotive Technik sales and service network and leveraging synergies with our other market-leading joint ventures, we will be able to help tedrive Steering localize its innovative technology and support our OEM and Tier One customers with competitive system and component solutions at the same time,” Arnie Jensen, Director and General Manager of Jebsen Automotive Technik, also the board of director of the new joint venture said.

Jebsen Automotive Technik supports this market with three JVs: Mitec-Jebsen, which provides high-end engine balance shafts and gear set solutions; Jebsen-TCG Automotive Systems (Dalian), which manufactures high-performance variable oil and water pumps; and MSR-Jebsen Technologies, which produces precision machined components for powertrain customers in China.

About Jebsen tedrive Steering Systems

To be established in Shanghai in the fourth quarter of 2014, “Jebsen tedrive Steering Systems Co. Ltd.” will supply advanced steering technologies in China. It is a joint venture of tedrive Steering, managed by its holding company “Steering Systems Beteiligungsgesellschaft mbH” of Germany, a global leader in the development and production of advanced steering systems, and “Jebsen Automotive Technik Co. Ltd.”, a subsidiary of Jebsen Industrial.

About tedrive Steering

tedrive Steering is a specialised development partner and manufacturer of steering systems for the global vehicle market. The company with headquarters in Germany operates three plants in Wuelfrath and Chemnitz (Germany), and further production, sales and technical facilities in Istanbul (Turkey), Nabereznyje Chelny (Tatarstan, Russia) and Howell (Michigan, USA). tedrive Steering is a full-service provider in the field of steering technologies. The product portfolio encompasses rack-and-pinion steering and recirculating ball steering gear systems for all vehicle segments from small passenger cars to large trucks and buses. tedrive Steering sets the course, developing competitive high-performance steering technology for passenger cars and commercial vehicles, with its award winning iHSA® technology and lightweight steering solutions. For more information, visit http://www.td-steering.com.

About Jebsen Automotive Technik

Jebsen Automotive Technik Co. Ltd. (JAT), a subsidiary of Jebsen Industrial under the Jebsen Group, supports overseas component suppliers to localize their operations and business in China. It oversees Mitec-Jebsen as well as Jebsen-TCG Automotive Systems, which produces high-performance variable oil and water pumps, and MSR-Jebsen Technologies, which manufactures high precision components for powertrain system. The company continues Jebsen’s history as a leader in Greater China’s aftermarket spare parts and services since 1921. For more information, visit http://www.jebsenindustrial.com/JAT.

*[Source: http://www.reuters.com/article/2014/02/13/us-china-auto-sales-idUSBREA1C0DR20140213]

Photo – http://photos.prnasia.com/prnh/20140822/8521404727

David M. Shaffer Named EnerSys President and Chief Operating Officer

READING, Pennsylvania, Aug. 14, 2014 /PRNewswire/ — John D. Craig of EnerSys (NYSE: ENS) today announced that he will be stepping down from his position of President effective November 1, 2014, but will remain with the company as Chairman and Chief Executive Officer. With this move, Dave M. Shaffer has been appointed to the newly created position of President and Chief Operating Officer. Mr. Shaffer is currently serving as President of the Company’s Europe, Middle East and Africa business and prior to that was President of the Company’s Asia business. Mr. Shaffer will continue to report to Mr. Craig.

“Dave is an experienced executive recognized for his accomplishments at EnerSys, I want to congratulate him on his new position and look forward to continuing to work with him,” stated Mr. Craig, “as EnerSys continues to grow towards our goal of $4 billion in revenue by 2018 this new position is one more element that will help ensure we achieve this objective.”

Mr. Shaffer, who has over 24 years experience in the battery industry, joined EnerSys in 2005 and has held positions of increasing responsibilities with the Company. He holds a B.S. in Mechanical Engineering from the University of Illinois and an MBA from Marquette University.

For more information, contact Thomas O’Neill, Vice President and Treasurer, EnerSys, P.O. Box 14145, Reading, PA 19612-4145, USA. Tel: 800-538-3627; Web site: www.enersys.com.

EDITOR’S NOTE: EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Motive power batteries and chargers are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions including medical, aerospace and defense systems. Outdoor equipment enclosure products are utilized in the telecommunication, cable, utility, transportation industries and by government and defense customers. The company also provides aftermarket and customer support services to its customers from over 100 countries through its sales and manufacturing locations around the world.

More information regarding EnerSys can be found at www.enersys.com.

Caution Concerning Forward-Looking Statements

This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act, which may include, but are not limited to, statements regarding EnerSys’ earnings estimates, revenue goals, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as “believe,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “will,” and similar expressions. All statements addressing operating performance, events, or developments that EnerSys expects or anticipates will occur in the future, including statements relating to sales growth, earnings or earnings per share growth, revenue growth, and market share, as well as statements expressing optimism or pessimism about future operating results or benefits from revenue growth, are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on management’s current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies and changes in circumstances, many of which are beyond the Company’s control. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.

Although EnerSys does not make forward-looking statements unless it believes it has a reasonable basis for doing so, EnerSys cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. For a list of other factors which could affect EnerSys’ results, including earnings estimates, see EnerSys’ filings with the Securities and Exchange Commission, including “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations,” including “Forward-Looking Statements,” set forth in EnerSys’ Quarterly Report on Form 10-Q for the period ended June 29, 2014. No undue reliance should be placed on any forward-looking statements.