New Seat Features Modular Design Available in Left- and Right-Hand
NEW ALBANY, Ohio, Sept. 18 /CNW/ -- Commercial Vehicle Group, Inc.
(Nasdaq: CVGI) today announced that it will introduce its new GSX 3000 Global
Truck Seat at the Internationale Automobil-Ausstellung (IAA) Show in Hanover,
Germany. Designed for truck and bus Original Equipment Manufacturers, the new
Global Seat will be initially available to aftermarket customers through CVG's
distributor network. CVG expects production of the new GSX Global Seat to
start in March 2009.
The aesthetically styled GSX 3000 was designed to meet the service needs,
performance requirements and certifications for all commercial vehicles with a
gross-vehicle weight of six-tons or more. Other commercial vehicle weight
classifications are planned in the future.
The GSX 3000 Seat provides multiple, comfort and safety features for
drivers of trucks, buses, coaches and utility vehicles, including:
-- Automatic, self-leveling air suspension
-- Adjustable dampening system
-- Quick exhaust air valve
-- Dual air lumbar and air side bolsters
-- Integral headrest
-- 3-point seat belts
-- Back recliner
-- Leather and fabric trim
-- Left- and right-hand versions
"We began development of the GSX 3000 as part of our corporate strategy
to diversify CVG's product offerings and expand our Company's geographic
footprint through entry into the European market, particularly truck seating.
The GSX 3000's modular design will allow us to market a comprehensive seat
program to new and existing customers on a global basis," stated Mervin Dunn,
President and Chief Executive Officer of CVG.
"We feel the design and structure of the GSX 3000 presents an exciting
opportunity for CVG to gain access to Europe and other markets world wide,"
Michael Hof, Vice President Commercial Global Seat Sales for CVG stated,
"We are very excited about the potential of the GSX 3000. It has a common
structure that is easily adaptable to different end-customer and market needs.
This product's advanced design allows us to meet specific customer
requirements, while leveraging high-volume purchasing opportunities to help
keep costs lower."
Hof added, "The GSX 3000 has the design and features necessary to compete
in the European commercial vehicle seating market. We will also leverage our
build-to-order manufacturing and logistic expertise to offer shorter delivery
times. Our goal is to reduce standard lead-times by 50% compared to most
European seating producers. Additionally, as a modular product, the GSX 3000
has a simplified design which makes it more serviceable. That should
translate into reduced maintenance costs and decreased down time for fleet
customers and owner-operators."
The IAA Show runs between September 25 and October 2, 2008. The CVG
booth (G-50) is located in HALL 11. In addition to the GSX 3000, CVG will
also display C.I.E.B. products, the Company's new KAB Seating Air 65/K4
heavy-duty construction seat and KAB Seating office chairs. Other CVG product
brands include: KAB Seating, National Seating, Sprague Devices(R),
Prutsman(TM), Moto Mirror(R) and Mayflower(R).
About Commercial Vehicle Group, Inc.
Commercial Vehicle Group is a leading supplier of fully integrated system
solutions for the global commercial vehicle market, including the heavy-duty
truck market, the construction and agriculture market and the specialty and
military transportation markets. The Company's products include suspension
seat systems, interior trim systems, such as instrument and door panels,
headliners, cabinetry, molded products and floor systems, cab structures and
components, mirrors, wiper systems, electronic wiring harness assemblies and
controls and switches specifically designed for applications in commercial
vehicle cabs. The Company is headquartered in New Albany, OH with operations
throughout North America, Europe and Asia. Information about the Company and
its products is available on the internet at www.cvgrp.com .
This press release contains forward-looking statements that are subject
to risks and uncertainties. These statements often include words such as
"believe," "expect," "anticipate," "intend," "plan," "estimate," or similar
expressions. In particular, this press release may contain forward-looking
statements about Company estimates for future periods with respect to revenues
and earnings per share or other financial information. These statements are
based on certain assumptions that the Company has made in light of its
experience in the industry as well as its perspective on historical trends,
current conditions, expected future developments and other factors it believes
are appropriate under the circumstances. Actual results may differ materially
from the anticipated results because of certain risks and uncertainties,
including but not limited to: (i) the Company's ability to develop or
successfully introduce new products; (ii) risks associated with conducting
business in foreign countries and currencies; (iii) general economic or
business conditions affecting the markets in which the Company serves; (iv)
increased competition in the heavy-duty truck market; (v) the Company's
failure to complete or successfully integrate additional strategic
acquisitions; (vi) the impact of changes in governmental regulations on the
Company's customers or on its business; (vii) the loss of business from a
major customer or the discontinuation of particular commercial vehicle
platforms; and (viii) various other risks as outlined in the Company's SEC
filings. There can be no assurance that statements made in this press release
relating to future events will be achieved. The Company undertakes no
obligation to update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to future
operating results over time. All subsequent written and oral forward-looking
statements attributable to the Company or persons acting on behalf of the
Company are expressly qualified in their entirety by such cautionary
For further information:
For further information: John Hyre, Investor Relations, Commercial
Vehicle Group, Inc., +1-614-289-5157 Web Site: http://www.cvgrp.com