ZEELAND, Mich., Nov. 17 /PRNewswire-FirstCall/ -- Gentex Corporation
(Nasdaq: GNTX), the Zeeland, Michigan-based manufacturer of automatic-dimming
rearview mirrors and commercial fire protection products, today announced that
Wallace K. Tsuha has been appointed to the Company's Board of Directors.
Tsuha will serve as a director until the Company's Annual Meeting of
Shareholders on May 13, 2004. The Company's Board of Directors intends to
nominate Tsuha for election by the Company's shareholders at the annual
meeting.
(Photo: http://www.newscom.com/cgi-bin/prnh/20031117/DEM006 )
The Company's Board of Directors also approved a continuing resolution to
pay a quarterly cash dividend of $0.15 per share until the Board of Directors
takes other action with respect to the payment of dividends. The next
quarterly dividend of $0.15 per share will be payable January 22, 2004, to
shareholders of record of the common stock at the close of business on
January 8, 2004. The ex-dividend date is January 6, 2004. Due to the
required period of time for the settlement of stock trades, this means that
you must have purchased shares of Gentex common stock on or before January 2,
2004, in order to receive this cash dividend.
Tsuha is chairman and chief executive officer of Saturn Electronics &
Engineering, Inc. in Auburn Hills, Michigan, a global supplier of automotive
electronics, electrical wiring, and electro-mechanical products to original
equipment manufacturers (OEMs) and their first tier suppliers.
"We are extremely pleased that Wally has agreed to join the Gentex Board
of Directors," said Gentex Chairman and Chief Executive Officer Fred Bauer.
"His strong business and technical skills and entrepreneurial background
provide him with the keen ability to understand our business from both a
technical and financial perspective. We believe that he will truly be an
asset to the Company's Board and its shareholders."
The Company also stated that longtime Gentex Board member Mickey Fouts has
announced his retirement from the Board after 22 years of service.
"I'd like to recognize the many years of service on the Gentex Board by
Mickey Fouts. As a Board member since 1982, Mickey has seen this company grow
from practically nothing to over $400 million in annual revenue. We offer our
best wishes to Mickey in the future," Bauer concluded.
Tsuha is chairman of the Asian Pacific American Chamber of Commerce. He
serves on the boards of the National Minority Supplier Development Council and
the Original Equipment Supplier Association (OESA). He is a member of the
Minority Business Round Table, as well as the Office for the Study of
Automotive Transportation. He lives in Rochester Hills, Michigan, with his
wife, Kim.
Saturn Electronics & Engineering was founded by Tsuha in 1985. The
company's highly innovative products are designed, engineered and manufactured
worldwide for the automotive, computer, and telecommunications industries in
the North American, European and Asian markets. The company offers
integrated, cost-effective solutions, and provides a broad range of services,
including design and engineering, supply chain management, manufacturing and
assembly, testing and qualification, and after-sales support.
Gentex Corporation (The Nasdaq Stock Market: GNTX) is an international
company that provides high-quality products to the worldwide automotive
industry and North American fire protection market. The Company develops,
manufactures and markets interior and exterior automatic-dimming automotive
rearview mirrors that utilize proprietary electrochromic technology to dim in
proportion to the amount of headlight glare from trailing vehicle headlamps.
More than 95 percent of the Company's revenue is derived from the sale of
those products to the world automotive industry.
Gentex was the first company in the world to successfully develop and
produce a commercial automatic-dimming rearview mirror. After more than 15
years of supplying these products in the highly competitive global automotive
industry, the Company remains the leading supplier of these mirrors. Gentex
OEM customers include Acura, Audi, Bentley, BMW, DaimlerChrysler, Fiat, Ford,
General Motors, Honda, Hyundai, Infiniti, Isuzu, Kia Motors, Lexus, Mazda,
Mitsubishi, Nissan, Opel, Renault Samsung, Rover, Rolls Royce, SsangYong
Motors, Toyota, Volkswagen and Volvo Car Corporation.
Founded in 1974, Gentex has its manufacturing facilities in Zeeland,
Michigan, and automotive sales and engineering offices in Detroit, Michigan;
Germany, Japan, the United Kingdom, France and Korea. The Company is
recognized for its quality products; for its proprietary manufacturing skills
and equipment and application of world class manufacturing principles; for its
commitment to developing and maintaining a highly skilled workforce, and for
encouraging employee ownership of the Company's stock.
SOURCE Gentex Corporation
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Related links:
http://www.gentex.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20031117/DEM006
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
CONTACT:
Connie Hamblin of Gentex Corporation,
+1-616-772-1800
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