Measurement Specialties Announces Occupant Weight Sensing ('OWS') Program with Texas Instruments
February 08 2005 - 4:02PM
PR Newswire (US)
Measurement Specialties Announces Occupant Weight Sensing ('OWS')
Program with Texas Instruments FAIRFIELD, N.J., Feb. 8
/PRNewswire-FirstCall/ -- Measurement Specialties, Inc. (AMEX:MSS),
a designer and manufacturer of sensors and sensor-based consumer
products, announced today that Texas Instruments/Sensors and
Controls Group ("TI") has selected MSI's Microfused(TM) strain gage
technology for use in a new sensor for accurately measuring the
weight of an individual in the passenger seat of an automobile
(occupant weight sensing, or OWS). The sensor's force element is
based on the Company's proprietary Microfused(TM) technology.
Occupant classification is a critical element in determining
passenger air bag deployment and will be required on all passenger
cars sold in North America by 2006. Use of occupant weight sensing
is one potential approach to meet the occupant classification
requirements. The TI occupant weight sensor has been accepted on
several vehicle platforms beginning in 2005. TI announced their new
OWS sensor in a release earlier today. Mike Cavanaugh, Materials
Manager for Texas Instruments commented, "MSI and the TI Sensors
and Controls Group are building upon an excellent relationship to
serve a new automotive OWS program. Through previous engagements
with TI, MSI has already shown its ability to provide a high
quality, cost effective product." "We expect the new OWS sensor to
begin production in early 2005 with larger scale production in late
2005," commented Glen MacGibbon, Director of Sensor Sales &
Marketing for Measurement Specialties. MacGibbon continued, "We
expect this OWS program to ramp up significantly in calendar year
2006, driving more than $5 million in revenue. TI is aggressively
pursuing this segment and expects to be a leader in the occupant
weight sensing market." "I am thrilled to have the opportunity to
expand our automotive business with Texas Instruments," noted Frank
Guidone, MSI CEO. "Our current program with TI has been very
successful and we look forward to the OWS program fueling
additional growth in our Sensor Division." MSI currently supplies
Texas Instruments with Microfused(TM) front end sub-assemblies used
in several automotive applications including pressure sensors
integrated into Electronic Stability Control (ESC) systems,
transmission systems, and common rail fuel delivery systems. MSI's
business has grown significantly with TI since 2000, with total
volume expected to exceed 15 million units in 2005. This release
includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities and Exchange Act of 1934, as amended, including but
not limited to, statements regarding the continued production of
current product lines. Forward looking statements may be identified
by such words or phases as "we expect," "intends," "are expected
to," "will continue," "is anticipated," "estimated," "projected,"
"may," "we believe," "future prospects," "potential growth
prospects," or similar expressions. The forward-looking statements
above involve a number of risks and uncertainties. Factors that
might cause actual results to differ include, but are not limited
to, success of any reorganization; consummation of any contemplated
sale of assets; ability to raise additional funds; the outcome of
the class action lawsuits filed against the Company; the outcome of
the current SEC investigation of the Company; conditions in the
general economy and in the markets served by the Company;
competitive factors, such as price pressures and the potential
emergence of rival technologies; interruptions of suppliers'
operations affecting availability of component materials at
reasonable prices; timely development and market acceptance, and
warranty performance of new products; changes in product mix, costs
and yields, fluctuations in foreign currency exchange rates;
uncertainties related to doing business in Hong Kong and China; and
the risk factors listed from time to time in the Company's SEC
reports. Forward- looking statements do not include the impact of
acquisitions or dispositions of assets, which could affect results
in the near term. Actual results may differ materially. The Company
assumes no obligation to update the information in this release.
Contact: Frank Guidone, CEO (757) 766-4400 Boutcher & Boutcher
Investor Relations Aimee Boutcher (973) 239-2878 DATASOURCE:
Measurement Specialties, Inc. CONTACT: Frank Guidone, CEO,
Measurement Specialties, Inc., +1-757-766-4400; or Aimee Boutcher
of Boutcher & Boutcher Investor Relations, for Measurement
Specialties, Inc., +1-973-239-2878 Web site: http://www.msiusa.com/
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