Recent Years

Financial Overview

-In 2013, the Company had net sales of over USD 850 million.

-In 2011, the Company achieved a turnover of over EUR 500 million, due to the sales of more than 41 million latch systems - the highest production volume in the history of the Company.

Acquisitions

-In November 2004, the Company announced that it acquired an initial stake of 25.5% in Daeki Automotive, a Korean manufacturer of locking systems, with the option to increase this stake to 49% within the next five years. The acquisition provides the Company with access to Korean car manufacturers, specifically the Hyundai/Kia Group.

Contracts

-In 2010, the Company was awarded a contract to supply the charger locking actuators for two electric car models starting in 2011. The actuator is positioned in the vehicle where the plug mates with the vehicle electrical socket. Once the driver connects the plug to the socket, the actuator automatically locks the two together. (From a press release on September 15, 2010)

R&D Structure

-The Company has over 200 employees working in research and development.

Product Development

Inertia Protect Latch
-In 2013, the Company developed a door latch module called the Inertia Protect Latch. The Inertia Protect Latch utilizes an active blocking mechanism directly integrated into the latch which prevents the door latch from opening in case of a crash. Furthermore, the integration of the mechanism into the latch reduces the size and weight of the module to approximately two matchboxes. This results in potential weight savings of up to one pound per vehicle.

Charger plug latches
-In 2011, the Company introduced its charger plug latches for electric vehicles. In cooperation with its development partners, the Company revealed its easyMobility package for electric vehicles, offering a complete product group for plug and cable management. (From a press release on April 19, 2011)

Beta Latch
-In 2011, the Company developed the new low-cost latch called Beta Latch. The Beta Latch weighs 300 grams and is 30% lighter than existing latches in this segment. A Chinese automaker started using the Beta Latch in its cars in 2012. (From a press release on April 15, 2011)

Patents

-As of October 2013, the Company has over 900 patents.

Investments outside Germany

<USA>
-In 2013, the Company announced plans to invest USD 2 million at its US headquarters and production facilities in Wixom, Michigan, US. The investment will go towards the installation of new equipment, renovation of offices and the addition of a new technology showroom. Production at the facility is expected to increase from 350,000 door-latch modules in 2013 to over 1.5 million modules in 2015. Sales are also expected to increase to over USD 35 million during the same time period. The Company expects that the number of employees will grow from 80 to 120 within 12 months.

<Russia>
-In 2013, the Company announced that its Russian plant would be built in the Russian Federal Republic of Tartarstan. The Company's first Russian-made products were scheduled to be produced at the end of 2013. (From a press release on March 4, 2013)

<Czech Republic>
-In January 2005, the Company announced plans to double its production capacity in the Czech Republic. The Company intended to invest at least USD 26 million into construction and machinery for a new plant in Prelouc, eastern Bohemia, to produce automobile locking systems. This investment was expected to create up to 1,100 new jobs in the region.