PALO ALTO, Calif., June 20 /PRNewswire-FirstCall/ -- Frost & Sullivan presents Proliance International, Inc. (AMEX:PLI) with the 2006 Market Leadership of the Year Award.
Proliance receives this Award for its growth in terms of market share, revenue, and innovation in the North American automotive heating, ventilation, and air-conditioning (HVAC) components aftermarket.
Proliance displays excellence in all areas of the market leadership process, comprising the identification of market challenges, drivers, and restraints, along with exhibiting excellence in strategic development processes and addressing various market dynamics.
The latest research on the HVAC components aftermarket by Frost & Sullivan indicates that Proliance captured 17.6 percent of manufacturer-level revenues in 2005. This figure takes into account the company's output of radiators, compressors, condensers, heater cores, accumulators and receiver-dryers, evaporators, and expansion valves.
"Formed in 2005 by the merger of Modine Manufacturing Company's aftermarket business and Transpro Inc., Proliance has successfully overtaken its rivals, since Frost & Sullivan's previous research on the same market in 2002," points out Frost & Sullivan Industry Analyst Stephen Spivey.
The merger allowed Proliance to gain immensely from the consolidation between the manufacturing and distribution operations of the two entities, thus helping Proliance record a 36 percent increase in revenue in 2005 with annual revenue for 2006 expected to be over $400 million.
As the automotive parts market witnesses a growing number of bankruptcies, Proliance continues to experience growth in market penetration and revenues, while its main competitors are shutting down their production lines and increasingly purchasing offshore replacement parts.
In spite of the increasing commoditization of automotive replacement parts -- where most replacement companies focus on replicating the form, fit, and function of the original equipment (OE) -- Proliance strives for greater product superiority and degree of innovation.
"Engineers at Proliance have identified flaws in OE components and are actively working on fixing them," notes Spivey. "For instance, the company's staff of 25 design and application engineers is currently working on improvements to single-row radiators that have failed in some new pickup truck models." Frost & Sullivan's Market Leadership of the Year Award is bestowed upon a company that has carried out new research, which has resulted in innovation(s) that have or are expected to bring significant contributions to the industry in terms of adoption, change, and competitive posture. This award recognizes the quality and depth of a company's research and development program as well as the vision and risk-taking that enabled it to undertake such an endeavor.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Proliance Proliance International, Inc. is a leading global manufacturer and distributor of aftermarket heat transfer and temperature control products for automotive and light truck and heavy-duty applications serving North America, Central America and Europe. The Company is organized into Domestic and International Business Segments. Its well-known product brands include: Ready-Rad(R) and Modine(R) Radiators
Ready-Aire(R) and Air Pro Quality Parts(R) Air Conditioning Components
Truck Tough(TM) Heavy Duty Products
Tractor Tough(TM) Agricultural Radiators
Ultra-Seal(R) Charge Air Coolers Proliance is a publicly traded company listed on the American Stock Exchange under the ticker symbol "PLI." The Company is the result of the July 2005 merger between Modine Aftermarket Holdings, a subsidiary of Modine Manufacturing Company of Racine, Wisconsin and Transpro, Inc., headquartered in New Haven, Connecticut. The new Company embodies decades of leadership in the heat transfer and temperature control aftermarket businesses, as it brings together all of the history and experience of these two companies, both reaching back to the early 1900's. This new combination creates a financially strong business platform that is building on established reputations for great customer service, high-quality products and innovation.
About Frost & Sullivan Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.awards.frost.com/ or http://www.automotive.frost.com/ Contact:
Stacie Jones
210.247.2450
DATASOURCE: Frost & Sullivan CONTACT: Stacie Jones of Frost & Sullivan, +1-210-247-2450, or Web site: http://www.frost.com/ http://www.awards.frost.com/ http://www.automotive.frost.com/
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