ORLANDO, Fla. and HAUPPAUGE, N.Y., Jan.
20, 2016 /PRNewswire/ -- VOXX International Corporation
(NASDAQ: VOXX), a leading manufacturer and distributor of
automotive, consumer accessories and premium audio products, today
announced the grand-opening of its new, flagship VOXXHirschmann OEM
manufacturing facility based in Orlando, FL. A groundbreaking ceremony
will be held later this afternoon at 3 p.m.
ET.
VOXX International chose Orlando due to its local-based talent pool for
expansion, proximity to major transportation hubs and business
friendly climate. The decision to consolidate and expand its
VOXXHirschmann Automotive manufacturing capabilities was driven by
customer demand of its new technologies as the Company continues to
work with tier-one and OEMs in delivering innovative technologies
for the connected car. This facility is tied together with
OEM operations in the metro Detroit area.
Since acquiring Hirschmann Car Communications ("Hirschmann) in
2012, the Company has been awarded over $500
million in new contracts and continues to solidify its
position as a leading supplier of rear-seat infotainment systems,
ultra remote start systems, vehicle telematics, BT passive
entry/exit, digital receivers/tuners, mobile multi-media tuners,
and antennas. This was made possible through the 2014
consolidation of the Company's independent OEM operations of
Hirschmann, Code Systems and Invision into VOXXHirschmann. By
combining resources, VOXXHirschmann and its global customers
immediately benefitted through the sharing of intellectual property
and product engineering capabilities. This also further
strengthened the Company's status as a true tier-one global
manufacturer and opened up new sales channels across the
globe.
Today, VOXXHirschmann proudly counts among its Automotive OEM
customers, Audi Group, BMW, Mercedes, Ford, GM, FCA, Toyota,
Nissan, Volkswagen, Kia, Mazda, Subaru, and many others.
Pat Lavelle, President and CEO of
VOXX International stated, "This is a major milestone for our
Company and I would like to personally thank everyone involved,
from Governor Scott to Mayor Jacobs and their respective staffs,
and all those who made this facility opening possible. With
over 250 product development specialists and engineers on staff, we
continue to bring to market new technologies that bridge the gap in
consumer and automotive technologies, while bringing the concept of
the connected car to life and with this new facility we
significantly enhance our production capabilities."
With its new OEM facility operational, VOXXHirschmann is in
position to capitalize on increased customer demand and fulfill its
promise to drive new technology applications that bring consumer
connectivity and content to and from the vehicle. This
facility, which to start will house over 300 employees, has the
full support of Enterprise
Florida, the Florida Department of Economic Opportunity,
CareerSource Florida, Orange
County and the Orlando Economic Development Commission.
VOXX was founded by the Company's Chairman John Shalam over 50 years ago as a car stereo
company, and has deep-seeded roots in the Automotive market.
Over the years, VOXX has grown its capabilities through acquisition
and strategic investments in technology, people and
resources. In addition to the core OEM product offerings,
VOXXHirschmann is also developing biometric security solutions for
the Automotive industry, leveraging the technology and intellectual
property of EyeLock, LLC, and its most recent acquisition.
What:
|
Ribbon-Cutting
Ceremony
|
|
|
Where:
|
2351 J. Lawson Blvd.
in Lake Nona, FL.
|
|
|
When:
|
Wednesday, January
20, 2016
|
|
|
Time:
|
3 p.m. – 4 p.m. U.S.
Eastern
|
Florida is ranked third in the
nation for high-tech establishments. In addition, the state's
software and computer systems design and integration industry is
one of the largest in the U.S., with nearly 12,600 firms. Florida
manufacturers are a powerful economic engine for the state's
economy. In addition to removing the manufacturing and equipment
sales tax on manufacturers earlier this year, Florida's strong workforce and top-ranked
infrastructure make it the perfect state for manufacturers.
Florida ranks among the top 10
states for establishments manufacturing a wide range of goods,
including aerospace products, batteries, food and beverages,
communications equipment, pharmaceuticals, semiconductors, boats
and more.
About VOXX International Corporation
VOXX
International Corporation (NASDAQ:VOXX) formerly Audiovox
Corporation has grown into a worldwide leader in many automotive
and consumer electronics and accessories categories, as well as
premium high-end audio. Today, VOXX International is a global
company with an extensive distribution network that includes power
retailers, mass merchandisers, 12-volt specialists and most of the
world's leading automotive manufacturers. The Company continues to
drive innovation throughout all of its subsidiaries, and maintains
its commitment to exceeding the needs of the consumers it
serves.
Safe Harbor Statement
Except for historical
information contained herein, statements made in this release that
would constitute forward-looking statements may involve certain
risks and uncertainties. All forward-looking statements made in
this release are based on currently available information and the
Company assumes no responsibility to update any such
forward-looking statements. The following factors, among others,
may cause actual results to differ materially from the results
suggested in the forward-looking statements. The factors include,
but are not limited to risks that may result from changes in the
Company's business operations; our ability to keep pace with
technological advances; significant competition in the automotive,
premium audio and consumer accessories businesses; our
relationships with key suppliers and customers; quality and
consumer acceptance of newly introduced products; market
volatility; non-availability of product; excess inventory; price
and product competition; new product introductions; foreign
currency fluctuations and concerns regarding the European debt
crisis; restrictive debt covenants; the possibility that the review
of our prior filings by the SEC may result in changes to our
financial statements; and the possibility that stockholders or
regulatory authorities may initiate proceedings against VOXX
International Corporation and/or our officers and directors as a
result of any restatements. Risk factors associated with our
business, including some of the facts set forth herein, are
detailed in the Company's Form 10-K for the fiscal year ended
February 28, 2015.
Company Contact:
Glenn Wiener, President
GW Communications
Tel: 212-786-6011
Email: gwiener@GWCco.com
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SOURCE VOXX International Corporation