Supply and Demand
North AmericaGentex Auto-Dimming Mirrors Featured on ’05 Nissan Pathfinder/Frontier
Gentex Corporation has begun shipping interior automatic-dimming mirrors for the 2005 Nissan Pathfinder SUV and Frontier Crew Cab truck. Both vehicles are sold in North America. Gentex auto-dimming is made to automatically darken to reduce glare from the headlamps of vehicles approaching from the rear.
The Gentex auto-dimming mirror is standard equipment on the Pathfinder SE Offroad and LE trim levels, as well as the Frontier Crew Cab LE. In addition to providing glare control, the mirror displays the vehicle’s compass heading and the external temperature. It also includes a fully integrated Johnson Controls HomeLink Wireless Control System – three buttons located on the chin of the mirror that can be programmed to operate garage doors, estate gates, security systems, home lighting and other radio-frequency-controlled devices. The same mirror is available on other trim levels as part of premium option packages. Next Generation Active Control Retractor Seatbelt System from TRW
TRW Occupant Safety Systems Holding GmbH, a subsidiary of TRW Automotive Holdings Corp., has unveiled its next generation TRW Active Control Retractor system.
The new product is claimed to offer improved packaging flexibility and additional functionality compared to TRW’s first-generation active seatbelt system launched in 2002. TRW currently has two contracts for the new version with two different vehicle manufacturers and will launch the product in 2007.
The TRW Active Control Retractor (ACR) links active and passive safety systems. ACR is designed to use braking and stability control sensor information to sense a potential accident. The system removes the seatbelt slack to help better position the occupant in relation to the vehicle’s airbag restraint system. SPX Sells GSE Tech-Motive Tool to Atlas Copco
SPX Corporation announced the completion of the sale of its GSE Tech-Motive tool business to Atlas Copco-owned Chicago Pneumatic Tool Company. GSE tech-motive tool manufactures and distributes specialized tightening solutions for customers with critical assembly applications. Based in Novi, Michigan, the business has annual revenues of approximately $25 million.
Service Solutions designs, manufactures and markets a fully integrated family of global brands providing special service tools, advanced diagnostic and shop equipment and technical information for vehicle servicing and maintenance.
SPX Corporation is a global provider of technical products and systems, industrial products and services, flow technology, cooling technologies and services, and service solutions.Veri-Tek Announces Full Exercise of Underwriters’ Over-Allotment Option
Veri-Tek International Corp. announced that the underwriter of its initial public offering has exercised its over-allotment option to purchase 375,000 shares of Veri-Tek’s common stock at the initial public offering price of $6.00 per share and that the over-allotment purchase was closed today. All of the overallotment shares were sold by Veri-Tek.
After giving effect to the sale of the overallotment option shares, total proceeds from the initial public offering (net of underwriting discount and estimated offering expenses) are estimated to be approximately $15.4 million. Veri- Tek intends to use the net proceeds to repay approximately $7.0 million of senior debt and for general corporate purposes, including working capital, capital expenditures primarily to expand the company’s manufacturing and testing capacity and sales and marketing.