HAUPPAUGE, N.Y., June 1, 2016 /PRNewswire/ -- VOXX International Corporation (NASDAQ: VOXX), today announced that its wholly-owned subsidiary, VOXXHirschmann, a tier-one supplier to global automotive original equipment manufacturers ("OEMs"), enhances its supply of its long-range remote start products to one of its long-standing customers, Subaru. With this new, multi-year contract award, VOXXHirschmann's remote start technology is available for Subaru's most popular line of vehicles including the new, Forester, Legacy and Outback models.
Commenting on today's announcement, Pat Lavelle, President and CEO of VOXX International Corporation stated, "We are pleased to expand our business relationship with Subaru through this new award for our long-range remote start technology, making it a new convenience option on the brand's top-selling models. This latest contract reflects the success of our ongoing efforts to meet the evolving requirements of our automotive customers and consumers seeking reliable and new, cost-effective in-vehicle technologies."
The new Subaru OEM contract was awarded to VOXXHirschmann in the fourth quarter of 2015 (CY) and includes the Company's long-range remote start technology for all "push to start" 2014 - 2018 Forester and 2015 - 2019 Legacy and Outback models. The VOXXHirschmann long-range remote start system significantly enhances key fob range up to 1,000ft, 3 - 4 times the distance of the traditional original equipment key fobs.
This announcement follows the recent receipt of the 2015 Subaru Supplier Excellence Award given to the VOXXHirschmann team in recognition of its outstanding achievement in all areas of supplier performance, and is the second consecutive year in which VOXXHirschmann has received this honor.
Michael Schroeder, Senior Vice President, Sales and Business Development with VOXXHirschmann added, "Both this latest award and the recognition bestowed upon VOXXHirschmann by Subaru is a testament to our team's hard work in satisfying and exceeding stringent customer requirements and expectations, while recognizing our ability to deliver consistently high levels of performance. We've enjoyed a long-standing partnership with Subaru and look forward to driving innovation on behalf of their loyal customer base. All of us at VOXXHirschmann remain committed to providing the automotive industry with the most innovative OEM solutions, whether remote starts, rear-seat infotainment, digital antennas and tuners, keyless entry products, and some of our newer developed products that will be coming to market within the next few years."
About VOXX International Corporation
VOXX International Corporation (NASDAQ: VOXX) 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 Corporation has an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and most of the world's leading automotive manufacturers. The Company has an international footprint in Europe, Asia,
Mexico and South America, and a growing portfolio, which now comprises over 30 trusted brands. Among the key domestic brands are Klipsch®, RCA®, Invision®, Jensen®, Audiovox®, Terk®, Acoustic Research®, Advent®, Code Alarm®, Car Connection®, 808®, AR for Her®, and Prestige®. International brands include Hirschmann Car Communication®, Klipsch®, Jamo®, Energy®, Mirage®, Mac Audio®, Magnat®, Heco®, Schwaiger®, Oehlbach® and Incaar™. For additional information, please visit our Web site at www.voxxintl.com.
About VOXXHirschmann Corporation
VOXXHirschmann Corp. is a newly formed subsidiary that combined the domestic and international OE design, engineering, manufacturing and sales assets of Hirschmann Car Communication, Audiovox, Code Systems and Invision. This worldwide collaboration brings together over 200 engineers and dozens of OE Automotive customers and tier-one companies. VOXXHirschmann has the capabilities to globally support every level of OE vehicle distribution, from vehicle production lines to modification centers and ports of entry and embarkation, to dealerships. Among the global customers served, include Audi, BMW, Chrysler, Fiat, Ford, GM, Mazda, Mercedes, Nissan, Subaru, Tesla, Volkswagen, and more. For more information,
please visit us online at www.voxxhirschmann.com.
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 29, 2016.
Michael Schroeder, Senior V.P., OEM Sales and Business Development
Investor and Media Relations Contact:
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SOURCE VOXX International Corporation