MILWAUKEE, Oct. 16, 2014 (GLOBE NEWSWIRE) -- STRATTEC SECURITY CORPORATION (Nasdaq:STRT) announced today that the Company was named 2014 Supplier of the Year by Ford Rotunda which is part of Ford Customer Service Division of the Ford Motor Company.
Frank Krejci, President & CEO commented: "I'm extremely proud of the hard work by our STRATTEC associates to earn this prestigious award. It is especially gratifying since it highlights our efforts to diversify. Last year, we won a Supplier of the Year Award from Chrysler in the Electronic Products category for designing, manufacturing and delivering product, which has historically been our strength. This award highlights the service business we created."
Steve Gilles, Manager, New Business Development said: "We provide support of increased customer satisfaction at Ford's automotive dealerships. As automotive access and security becomes more sophisticated, dealerships are choosing to outsource to STRATTEC the coding of replacement keys for increased product accuracy with the expectation of timely 1 day delivery. This recognition from Ford Rotunda validates the investment in superior processes that STRATTEC has made in the last few years to enhance our product portfolio with value added services that are world class."
STRATTEC designs, develops, manufactures and markets automotive Access Control Products, including mechanical locks and keys, electronically enhanced locks and keys, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power lift gate systems, power deck lid systems, door handles and related products. These products are provided to customers in North America, and on a global basis through a unique strategic relationship with WITTE Automotive of Velbert, Germany and ADAC Automotive of Grand Rapids, Michigan. Under this relationship, STRATTEC, WITTE and ADAC market our products to global customers under the "VAST" brand name. STRATTEC's history in the automotive business spans over 100 years.
Certain statements contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as "anticipate," "believe," "could," "expect," "intend," "may," "planned," "potential," "should," "will," and "would." Such forward-looking statements in this release are inherently subject to many uncertainties in the Company's operations and business environment. These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company's and its customers' products, competitive and technological developments, customer purchasing actions, foreign currency fluctuations, and costs of operations (including fluctuations in the cost of raw materials). Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this release. In addition, such uncertainties and other operational matters are discussed further in the Company's quarterly and annual filings with the Securities and Exchange Commission.
CONTACT: Pat Hansen Senior Vice President and Chief Financial Officer 414-247-3435 www.strattec.com
Source:STRATTEC SECURITY CORPORATION