PORTLAND, OR — (Marketwire) — 07/14/11 — Williams Controls (NASDAQ: WMCO) announced today that it has been awarded new production programs with two Indian commercial vehicle manufacturers for its Electronic Throttle Control (ETC) and Sensor products. These awards are for new vehicle platforms for the India market and will be supported from Williams- manufacturing facility in Pune, India. Shipments are expected to begin in 2013.
These awards continue Williams Controls- success in penetrating the light and heavy commercial vehicle market in India. Over the last 18 months, Williams has been awarded a number of new programs in the rapidly growing Indian market.
“As more stringent emissions standards are implemented for vehicles in India, the demand for the Company-s products will continue to grow. We believe that the establishment of our factory in Pune, India over one year ago and our ability to quickly adapt our technology to the customers- requirements are instrumental in growing our business in the Indian market,” said Patrick W. Cavanagh, President and CEO of Williams Controls.
Williams Controls is the world leader in Electronic Throttle Controls for commercial vehicles. Its customers include many of the global leaders in the truck, bus, and off-road markets. Williams Controls is headquartered in Portland and employs more than 300 people worldwide. It supports its customers in North America, Europe, and Asia with production facilities in Portland, Oregon, USA, Suzhou, China, and Pune, India.
The statements included in this news release concerning predictions of economic performance and management-s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1934, as amended. These forward looking statements are based on management-s assumptions and projections, and are sometimes identifiable by use of the words, “expect to,” “plan,” “will,” “believe” and words of similar predictive nature. Because management-s assumptions and projections are based on anticipation of future events, you should not place undue emphasis on forward-looking statements. You should anticipate that our actual performance may vary from these projections, and variations may be material and adverse. You should not rely on forward-looking statements in evaluating an investment or prospective investment in our stock, and when reading these statements you should consider the uncertainties and risks that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Securities and Exchange Commission filings of the Company; economic downturns affecting the operations of the Company or any of its business operations, competition, and the ability of the Company to successfully identify and implement any strategic alternatives. The forward-looking statements contained in this press release speak only as of the date hereof and the Company disclaims any intent or obligation to update these forward-looking statements.
Mike Rusk
Financial Controller
(503) 684-8600
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