AUBURN HILLS, Mich., Jan. 7 /PRNewswire/ -- Siemens management today
announced the official launch of Siemens VDO Automotive Corp., marking the
final step in the formation of the automotive electronics supplier's United
States operations. This now completes the company's global transition to
Siemens VDO Automotive, securing its position as one of the world's largest
suppliers of automotive electronics.
Siemens VDO Automotive Corp. will be headquartered at the company's
Detroit area campus, located in Auburn Hills, Mich. The Detroit campuses,
which host approximately 750 employees in Auburn Hills, Troy and Dearborn,
will serve as part of the company's world headquarters responsible for a
variety of organizational functions such as, global purchasing, sales and
business development. The former VDO North America LLC facility, located in
Troy, Mich., becomes the new company's fourth Detroit area campus.
The merger of Siemens Automotive Corp. and VDO North America LLC
operations is a vital part of the company's global growth strategy.
"The U.S. market, in spite of the current industry downturn, still
represents double-digit growth in terms of expanded or new business for
Siemens VDO Automotive over the next five years and serves as one of our most
important growth markets worldwide," said John Sanderson, president and CEO,
Siemens VDO Automotive Corp.
According to Sanderson, the combined automotive electronics engineering
and manufacturing expertise of Siemens and VDO puts the merged organization in
an advantageous position to capitalize on new and emerging product areas that
offer Original Equipment Manufacturers (OEMs) a range of optimized, cost-
effective solutions in key vehicle growth areas. These include occupant
safety and security, powertrain fuel economy and emissions, occupant comfort
and convenience and car communications and driver information.
Sanderson cited a recent example of the optimized customer solutions
resulting from merged Siemens and VDO Expertise in the company's TireGuard
Tire Pressure Monitoring System (TPMS), soon to be in production for North
American and European vehicle makers.
"TireGuard was originally developed by Siemens Automotive prior to the
merger with VDO," said Sanderson. "Now this product's application can be
further enhanced by VDO's industry-leading expertise in instrumentation and
driver information, a critical capability required for the implementation of
tire warning systems."
With combined sales in a shortened fiscal year of approximately $5 billion
in 2001, Siemens VDO Automotive AG now serves the global automotive industry
as a leading global automotive electronics company. Advanced automotive
electronics products account for more than 60 percent of the company's entire
product portfolio, which comprises approximately 2,000 different automotive
products. 70 percent of the company's products are less than three years old,
while 20 percent have spent less than a year in the market place.
"The rapid market transition of our products is indicative of the steady
penetration of electronics in vast and new automotive applications," said
Sanderson. "Though slowed by the current industry downturn, automotive
electronics remains the fastest growing segment of the auto industry at eight
to 10 percent annually."
Siemens VDO Automotive AG and its affiliates employ 5,500 engineers and
scientists worldwide, more than 10 percent (approximately 600) of whom are
based in the company's Detroit headquarters. In total, the Siemens VDO
Automotive engineers account for more than 15,000 patents, which is expected
to increase to 25,000 patents by 2004.
Siemens VDO Automotive AG is one of the world's leading suppliers of
electronics, electrical and mechatronic technologies to the automotive
industry. As a development partner in the automotive industry, the company
manufactures products for powertrain, engine control electronics and fuel
injection technology that improve engine performance and reduce emissions.
The company is a market leader in powertrain systems, information and car
communication systems with instrumentation, audio and navigation systems,
telematics and multimedia applications through to complete cockpits.
Siemens VDO Automotive AG products for chassis and carbody contribute to
greater vehicle safety and security. These products include ABS electronics
and fuel tank systems and access control systems. A separate Trading/
Aftermarket division markets products for retrofitting in cars and commercial
vehicles. The company was created in April 2001 as a result of the merger
between Siemens Automotive AG and Mannesmann VDO.
Siemens AG (NYSE: SI), headquartered in Munich, is a leading global
electronics and engineering company. It employs some 450,000 people in 193
countries, and reported worldwide sales of more than $74 billion in fiscal
2001 (10/1/00 - 9/30/01). The United States is Siemens' largest market, with
77,000 employees and sales of $18.9 billion for fiscal 2001. For more
information about Siemens in the U.S., go to http://www.usa.siemens.com
SOURCE Siemens VDO Automotive
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Related links:
http://www.usa.siemens.com
CONTACT:
David Ladd of Siemens VDO Automotive,
+1-248-209-5822, david.ladd@at.siemens.com
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