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	<description>Call 412.88.AUDIO</description>
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		<title>Fed Proposes Limits on Car Navigation</title>
		<link>http://www.teamnutztechnology.com/archives/1992</link>
		<comments>http://www.teamnutztechnology.com/archives/1992#comments</comments>
		<pubDate>Mon, 20 Feb 2012 02:32:27 +0000</pubDate>
		<dc:creator>teamnu5</dc:creator>
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		<category><![CDATA[Fed Proposes Limits on Car Navigation]]></category>

		<guid isPermaLink="false">http://www.teamnutztechnology.com/?p=1992</guid>
		<description><![CDATA[The Fed proposed Thursday that auto makers produce connected car radios that require the car is in park before drivers may look up an address on a navigation system, browse the Internet or dial a phone number. DOT on Distracted DrivingAn exception is voice activated use of any of the above functions, which would not [...]]]></description>
			<content:encoded><![CDATA[<p>The Fed proposed Thursday that auto makers produce connected car radios that require the car is in park before drivers may look up an address on a navigation system, browse the Internet or dial a phone number.</p>
<p>DOT on Distracted DrivingAn exception is voice activated use of any of the above functions, which would not require the car be in park.</p>
<p>A second set of guidelines on aftermarket car products will follow, said the Department of Transportation.</p>
<p>The edict is the first-ever “federally proposed guidelines to encourage automobile manufacturers to limit the distraction risk for in-vehicle electronic devices,” said the agency.</p>
<p>These are voluntary guidelines, but the agency expects that auto makers will fully comply, and in fact, many car makers already follow the guidelines.</p>
<p>The aftermarket is not excluded from the DOT’s radar.  A second phase of guidelines  will affect aftermarket products such as portable navigation systems as well as “smart phones, electronic tablets and pads, and other mobile communications devices,” said the DOT.</p>
<p>A third set of guidelines may address voice-activated controls to further minimize distraction in factory-installed, aftermarket, and portable devices, said the agency.</p>
<p>As for phase one of the guidelines for auto makers, public comments are invited over the next 60 days and public hearings will be held in March in Los Angeles, Chicago, and Washington D.C</p>
<p>The phase one guidelines apply specifically to any infotainment/navigation functions “that are not required to safely operate the vehicle.”</p>
<p>“We recognize that vehicle manufacturers want to build vehicles that include the tools and conveniences expected by today’s American drivers,” said David Strickland, Administrator for NHTSA  (National Highway Traffic Safety Administration), the arm of the DOT responsible for the guidelines. “The guidelines we’re proposing would offer real-world guidance to automakers to help them develop electronic devices that provide features consumers want-without disrupting a driver’s attention or sacrificing safety.”</p>
<p>He also noted that data shows that “the vast majority of crashes occur because of dangerous behavior, including driving drunk, driving while distracted, and driving too fast.”</p>
<p>You can view the full guidelines and DOT press release here.</p>
<p>Source: DOT via The Wall Street Journal</p>
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		<title>Nevada is getting serious about driverless cars</title>
		<link>http://www.teamnutztechnology.com/archives/1990</link>
		<comments>http://www.teamnutztechnology.com/archives/1990#comments</comments>
		<pubDate>Mon, 20 Feb 2012 02:30:48 +0000</pubDate>
		<dc:creator>teamnu5</dc:creator>
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		<category><![CDATA[Nevada is getting serious about driverless cars]]></category>

		<guid isPermaLink="false">http://www.teamnutztechnology.com/?p=1990</guid>
		<description><![CDATA[We were admittedly cynical last summer, when Nevada&#8217;s state legislature passed a law regulating the safety of driverless cars. But maybe we shouldn&#8217;t have been, because it looks like they&#8217;re actually serious about it. The state has now begun fleshing out its campaign with new regulations for testing these robocars, which, of course, are still [...]]]></description>
			<content:encoded><![CDATA[<p>We were admittedly cynical last summer, when Nevada&#8217;s state legislature passed a law regulating the safety of driverless cars. But maybe we shouldn&#8217;t have been, because it looks like they&#8217;re actually serious about it. The state has now begun fleshing out its campaign with new regulations for testing these robocars, which, of course, are still very much in their infancy. According to the Associated Press, drivers looking to test a driverless vehicle will have to first purchase a bond worth between $1 million and $3 million, depending on the specifics of their project. The data from each test, moreover, will have to be shared with state officials, and all automated vehicles must have some sort of black box-like device to securely store this information, in the event of a crash. Most interesting, however, is how humans fit into all of this. Under the state&#8217;s regulations, a passenger is still considered an &#8220;operator&#8221; of the vehicle, even if he or she isn&#8217;t driving. They&#8217;ll be exempt from Nevada&#8217;s ban on driving while texting, but they won&#8217;t be able to rely on their robocar as a designated driver &#8212; which is fine, because it&#8217;s not like anyone drinks in Vegas anyway.</p>
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		<title>BMW My Remote app arrives in the US, 3-Series with stinger missiles due soon</title>
		<link>http://www.teamnutztechnology.com/archives/1988</link>
		<comments>http://www.teamnutztechnology.com/archives/1988#comments</comments>
		<pubDate>Mon, 20 Feb 2012 02:30:21 +0000</pubDate>
		<dc:creator>teamnu5</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[3-Series with stinger missiles due soon]]></category>
		<category><![CDATA[BMW My Remote app arrives in the US]]></category>

		<guid isPermaLink="false">http://www.teamnutztechnology.com/?p=1988</guid>
		<description><![CDATA[BMW&#8217;s My Remote iOS app has been available here in Europe for a while. Reenacting the car park chase from Tomorrow Never Dies is one of the principal ways to let off steam on a weekend. Sadly, the company has brought our exclusive fun to an end by releasing the app in the USA &#8212; [...]]]></description>
			<content:encoded><![CDATA[<p>BMW&#8217;s My Remote iOS app has been available here in Europe for a while. Reenacting the car park chase from Tomorrow Never Dies is one of the principal ways to let off steam on a weekend. Sadly, the company has brought our exclusive fun to an end by releasing the app in the USA &#8212; albeit without the weaponized vehicles from the movie. Once installed on an iPhone, you&#8217;ll get remote locking, horn and headlights as well as a positioning app so you never get lost in a parking lot. The age and model of your Beemer will decide what features you&#8217;ll be able to use (full details after the break) but remember Bond: you have a license to kill, not to violate the traffic laws.</p>
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		<title>Directed Sells Off Orion Car Audio Brand</title>
		<link>http://www.teamnutztechnology.com/archives/1982</link>
		<comments>http://www.teamnutztechnology.com/archives/1982#comments</comments>
		<pubDate>Mon, 20 Feb 2012 02:29:49 +0000</pubDate>
		<dc:creator>teamnu5</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Directed Sells Off Orion Car Audio Brand]]></category>

		<guid isPermaLink="false">http://www.teamnutztechnology.com/?p=1982</guid>
		<description><![CDATA[Directed said it has sold the Orion car audio brand to MD Audio Engineering, the U.S. arm of a Latin America supplier that officially makes its market debut in the U.S. with Orion. OrionThe Orion brand and product rights were sold for an undisclosed sum. As of February 10, MD Audio, based in Miami, handles [...]]]></description>
			<content:encoded><![CDATA[<p>Directed said it has sold the Orion car audio brand to MD Audio Engineering, the U.S. arm of a Latin America supplier that officially makes its market debut in the U.S. with Orion.</p>
<p>OrionThe Orion brand and product rights were sold for an undisclosed sum.</p>
<p>As of February 10, MD Audio, based in Miami, handles all Orion orders and warranties.  MD Audio is an arm of Mobile Sound out of Venezuela, which sells Lanzar Pro car audio amplifiers and speakers in the Latin and Central American markets as well as the Caribbean.  It has been in the car audio business for about 25 years .</p>
<p>For its part, Directed divested Orion in order to focus its energy on “car security and control” products and window film, said VP marketing Jim Jardin.</p>
<p>Orion ampDirected’s parent company, DEI Holdings, continues to own Polk Audio.</p>
<p>“SmartStart and connectivity of your phone is just taking off.  We lead that category and we want to continue to lead….we have plans to aggressively grow it and we just want to focus on our core again,” said Jardin.</p>
<p>MD Audio’s financial officer Willy Lopez said the company plans to improve the product quality of Orion and take the brand global.  “Our intent is to restore Orion to the position it held in its glory days in the late 80’s and early 90’s, when it was the premier high power, dollar for power product you could buy.”</p>
<p>The company plans to improve componentry and “step it up to more power for the dollar,” Lopez said.</p>
<p>MD Audio acquired all global rights to Orion, as well as proprietary designs, existing inventory, show cars, marketing materials and web domains.</p>
<p>The company plans to keep the Lanzar Pro and Orion brands separate, with Lanzar Pro aimed at the Latin and Central American markets and the Caribbean while Orion is initially aimed at the U.S.</p>
<p>MD Audio Engineering may be reached at info@mdaudio.net.</p>
<p>Source:  CEoutlook</p>
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		<title>Spray-on antenna revealed: best thing to come in a can since Easy Cheese (video)</title>
		<link>http://www.teamnutztechnology.com/archives/1980</link>
		<comments>http://www.teamnutztechnology.com/archives/1980#comments</comments>
		<pubDate>Fri, 17 Feb 2012 02:19:30 +0000</pubDate>
		<dc:creator>teamnu5</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Spray-on antenna revealed: best thing to come in a can since Easy Cheese (video)]]></category>

		<guid isPermaLink="false">http://www.teamnutztechnology.com/?p=1980</guid>
		<description><![CDATA[Ever found yourself without a signal and wished you could just spray one on like magic? Well, maybe soon, you&#8217;ll be able to do just that. Chamtech Enterprises has developed a spray-on antenna it says is more lightweight and energy-efficient than current technology. Revealed at Google&#8217;s inaugural Solve for X shindig, the antenna can be [...]]]></description>
			<content:encoded><![CDATA[<p>Ever found yourself without a signal and wished you could just spray one on like magic? Well, maybe soon, you&#8217;ll be able to do just that. Chamtech Enterprises has developed a spray-on antenna it says is more lightweight and energy-efficient than current technology. Revealed at Google&#8217;s inaugural Solve for X shindig, the antenna can be &#8220;painted&#8221; onto almost anything, including trees, walls and fabrics. Chamtech&#8217;s already talking with government-based customers, and as such can&#8217;t spill too much detail on how it works, but said it uses organic elements to tinker with magnetic and radio-frequency fields. The start-up&#8217;s CTO, Rhett Spencer, claims the antenna could increase mobile energy efficiency by 10 percent. It was also found to work particularly well under water, and being organic, we presume, would make it ideal for sub-aquatic telecom infrastructure, and of course, rainy days. </p>
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		<title>Audiovox to Launch New OE Fit Radio Program</title>
		<link>http://www.teamnutztechnology.com/archives/1978</link>
		<comments>http://www.teamnutztechnology.com/archives/1978#comments</comments>
		<pubDate>Fri, 17 Feb 2012 02:18:51 +0000</pubDate>
		<dc:creator>teamnu5</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Audiovox to Launch New OE Fit Radio Program]]></category>

		<guid isPermaLink="false">http://www.teamnutztechnology.com/?p=1978</guid>
		<description><![CDATA[While OE-Fit or factory look a-like car radios are spiking in sales at car dealers, retailers have been slow to embrace the new products. The radios are harder to stock and display, as you need a different customized radio for each major car model. Also, few of the top head unit brands offer factory look-a-like [...]]]></description>
			<content:encoded><![CDATA[<p>While OE-Fit or factory look a-like car radios are spiking in sales at car dealers, retailers have been slow to embrace the new products.</p>
<p>The radios are harder to stock and display, as you need a different customized radio for each major car model.</p>
<p>Also, few of the top head unit brands offer factory look-a-like radios, and retailers are reluctant to sign on with a new brands and sacrifice volume discounts with their current suppliers, they said.</p>
<p>Factory look-a-like (or OE upgrade) radios are designed to work seamlessly in a given car model and to look just like the original radio.  They typically include upgrade features like navigation, Bluetooth and a backup camera option.</p>
<p>Audiovox said it’s working to entice car audio retailers into the category with a new program to launch in a few months.</p>
<p>It will publish a glossy display book that shows each of the leading cars and the options you can buy for it, including an OE upgrade radio and rear seat entertainment. “The customer with a brand new GM, who is not thrilled with an aftermarket radio,” can shop for what he likes and get same day or next day shipping, said Audiovox Electronics president Tom Malone.</p>
<p>“Our OE Fit radio sales should double over last year.  But it’s still a modest category,” said Malone, admitting “retail is a challenge.”</p>
<p>At the same time, there is a growing base of customers who want a radio that perfectly matches their car interior.</p>
<p>Another advantage of OE replacement radios are they can’t be “shopped online” as they are not common at online discounters.  They carry high price tags, often at $1,500 and they support high dealer margins.  They also offer longer warranties than typical aftermarket products.</p>
<p>Source: CEoutlook</p>
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		<title>That New Car Smell Could Make You Sick</title>
		<link>http://www.teamnutztechnology.com/archives/1976</link>
		<comments>http://www.teamnutztechnology.com/archives/1976#comments</comments>
		<pubDate>Fri, 17 Feb 2012 02:16:10 +0000</pubDate>
		<dc:creator>teamnu5</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[That New Car Smell Could Make You Sick]]></category>

		<guid isPermaLink="false">http://www.teamnutztechnology.com/?p=1976</guid>
		<description><![CDATA[There’s something about that new car smell. Unfortunately, while some folks love the scent of a vehicle that’s just rolled out of the showroom the volatile chemicals found in many automotive interiors can make others quite ill. So, a new study is naming names and pointing fingers, identifying the 2012 Honda Civic as the safest [...]]]></description>
			<content:encoded><![CDATA[<p>There’s something about that new car smell.  Unfortunately, while some folks love the scent of a vehicle that’s just rolled out of the showroom the volatile chemicals found in many automotive interiors can make others quite ill.</p>
<p>So, a new study is naming names and pointing fingers, identifying the 2012 Honda Civic as the safest automotive interior, while listing the Mitsubishi Outlander Sport as the vehicle most likely to make you sick.</p>
<p>“Automobiles function as chemical reactors, creating one of the most hazardous environments we spend time in,” says Jeff Gearhart, research director at the Ecology Center.</p>
<p>There was a time when manufacturers actually worked to enhance the classic new car scent, and even now Volkswagen and a number of other automakers operate departments specifically to develop appealing aromas.</p>
<p>The problem is that what most of us think of us when we drive a off in a new car is likely to be the smell of any number of volatile organic compounds, or VOCs, many of which are downright unhealthy to be breathing in while confined in a small place like a passenger compartment, the Ecology Center notes.</p>
<p>There are also a variety of questionable compounds used for treating leathers and other interior materials.</p>
<p>The Mitsubishi Outlander, the organization noted, “contained bromine and antimony-based flame retardants in the seating and center console; chromium-treated leather on several components; and over 400 ppm lead in seating materials.”</p>
<p>The three worst models on the “Greenest Vehicles” list from the Ecology Center are:</p>
<p>•The Mitsubishi Outlander Sport;<br />
•The Chrysler 300C; and<br />
•The Kia Soul.<br />
Currently, automotive interiors are unregulated when it comes to the use of chemical compounds, and “consumers have no way of knowing the dangers they face,” said Gearheart.</p>
<p>But he credits the industry with “working on” ways to replace dangerous materials with healthier ones.  The new battery-car start-up, Fisker Automotive, for example, specifically says it has taken steps to eliminate any dangerous VOCs and reduce the use of other unhealthy compounds.  (The maker is also appealing to animal rights activists by offering an optional “animal free” interior that uses safe alternatives to leather.)</p>
<p>According to the Ecology Center, the safest cars from an interior chemical standpoint are:</p>
<p>•The Honda Civic;<br />
•The Toyota Prius; and<br />
•The Honda CR-Z.<br />
For the complete results of the Ecology Center study, Click Here.</p>
<p>Source: The Detroit Bureau</p>
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		<title>3M Commercial Graphics Introduces the SIIT GX 3M Ink Series</title>
		<link>http://www.teamnutztechnology.com/archives/1974</link>
		<comments>http://www.teamnutztechnology.com/archives/1974#comments</comments>
		<pubDate>Fri, 17 Feb 2012 02:15:31 +0000</pubDate>
		<dc:creator>teamnu5</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[3M Commercial Graphics Introduces the SIIT GX 3M Ink Series]]></category>

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		<description><![CDATA[3M Commercial Graphics Introduces the SIIT GX 3M Ink Series Vibrant solvent inks offer flexibility and reliable performance for use with Seiko printer ST. PAUL, MN (02.15.12) – 3M Commercial Graphics and Seiko I Infotech Inc. (SIIT) introduce GX 3M inks—vibrant, flexible colored inks made for use in the Seiko I Infotech ColorPainter™ H Series [...]]]></description>
			<content:encoded><![CDATA[<p>3M Commercial Graphics Introduces the SIIT GX 3M Ink Series<br />
Vibrant solvent inks offer flexibility and reliable performance for use with Seiko printer</p>
<p>ST. PAUL, MN (02.15.12) – 3M Commercial Graphics and Seiko I Infotech Inc. (SIIT) introduce GX 3M inks—vibrant, flexible colored inks made for use in the Seiko I Infotech ColorPainter™ H Series Printers. Designed for printing on many 3M brand opaque, translucent and reflective graphic films, GX 3M inks can be applied on or to fleet and vehicle graphics, indoor and outdoor signs, and promotional graphics.</p>
<p>The solvent inks have excellent conformability, and are available in eight rich colors, which include cyan, magenta, yellow, black, light cyan, light magenta and two shades of white. GX 3M inks are suitable for graphic films applied on compound curves, corrugations, and riveted and flat surfaces, offering outstanding versatility to users. When protected with the proper 3M overlaminate, the inks are also durable and weather resistant.</p>
<p>“We are proud to collaborate with Seiko Instruments USA and to introduce the SIIT 3M Ink series to the market,” said Adam Larson, marketing supervisor, 3M Commercial Graphics. “The Seiko ColorPainter H Series has proven to be a successful printer in the wide format graphic industry; we are excited about the opportunity to offer a co-branded ink for this reputable machine.”</p>
<p>The combination of GX 3M inks and ColorPainter™ H Series Printers gives users a valuable tool for productivity, quality, and cost effectiveness. ColorPainter™ H Series Printers are built for reliable operation in high-volume environments and offer industry-leading printing speeds and rich saturated color output. These cost effective printers produce graphics backed by the 3M™ MCS™ Warranty. As the first finished graphics warranty in the industry, the 3M™ MCS™ Warranty helps protect discriminating users who require optimum performance for the intended life of the graphics.</p>
<p>“3M’s reputation in the industry made it an easy choice to partner with them to create this ink series,” said Pat Ryan, general manager, Seiko Instruments USA, Inc. “With 3M’s thorough testing and confident backing of its products, our customers know they can be confident too.”</p>
<p>For more information, visit 3M.com/graphics.</p>
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		<title>Best-in-Class KICKER® ZXS-Series Subwoofer Amplifiers Smaller Than Ever</title>
		<link>http://www.teamnutztechnology.com/archives/1972</link>
		<comments>http://www.teamnutztechnology.com/archives/1972#comments</comments>
		<pubDate>Fri, 17 Feb 2012 02:14:20 +0000</pubDate>
		<dc:creator>teamnu5</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Best-in-Class KICKER® ZXS-Series Subwoofer Amplifiers Smaller Than Ever]]></category>

		<guid isPermaLink="false">http://www.teamnutztechnology.com/?p=1972</guid>
		<description><![CDATA[With all the characteristics of reliable, powerful ZX-Series Amplifiers, the new KICKER® ZXS-Series Amplifiers continue to provide trouble-free amplification and loud, clear sound, and now from a significantly smaller heat sink than its ZX counterparts. Two models of ZXS monoblock amps are available, both under 14 inches long and easy to handle during installation. And [...]]]></description>
			<content:encoded><![CDATA[<p>With all the characteristics of reliable, powerful ZX-Series Amplifiers, the new KICKER® ZXS-Series Amplifiers continue to provide trouble-free amplification and loud, clear sound, and now from a significantly smaller heat sink than its ZX counterparts. Two models of ZXS monoblock amps are available, both under 14 inches long and easy to handle during installation.  And they can still be personalized with colorful vinyl skins.</p>
<p>ZXS1000.1<br />
The ZXS1500.1 and ZXS1000.1 Mono-Channel Subwoofer Amplifiers give the user a couple of manageable power choices for supplying bass needs. Offering 1,500 and 1,000 watts respectively (listed ratings 2 Ohm at 14.4V), KICKER makes selections available for what it does best… bass. Hiding under a small, efficient chassis, ZXS.1 Amps offer a 24dB/octave low-pass electronic crossover and a 24dB/octave, high-pass subsonic filter fixed at 25 hertz. They feature up to +18dB of boost centered at 40 hertz, and both include the KICKER ZXRC remote bass control for that extra bit of bass boost at the driver’s fingertips.</p>
<p>Traffic in the Central Hall was heavy every day at CES 2012.<br />
ZXS monoblock amps use a boost converter power supply for the highest sound quality and super efficiency.  Boost converter technology allows ZXS monoblock amps to achieve a typical efficiency of nearly 90 percent, better than Class D and way more than Class A/B power, for cooler running and optimum reliability.  It also requires fewer internal parts, which allows ZXS amplifiers to be nearly 30 percent smaller than its ZX-amp counterparts.</p>
<p>The Kicker booth in the Central Hall showcased new gear in demo vehicles like this 2011 Chevy Camaro.<br />
KICKER amplifiers feature FIT™, or Fail-Safe Integration Technology for the quietest operation possible.  Alternators, computers and audio/video entertainment result in additional noise pulsing through today’s vehicles.  FIT utilizes isolated differential inputs, rejecting noise and electrical interference for ultimate audio clarity. FIT comes standard on ZXS and ZX Amplifiers.</p>
<p>Optional endcaps are available for all ZXS and ZX amplifier models. Amp chassis skins for personalizing any install can be ordered at www.kicker.com.</p>
<p>For more information about Kicker visit www.kicker.com and don’t forget to follow KICKER at facebook.com/kickeraudio and twitter.com/kickeraudio.</p>
<p>For the full specifications on the ZX series visit the ZX Amplifier page on Kicker’s Website.</p>
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		<title>VOXX International to Acquire Hirschmann</title>
		<link>http://www.teamnutztechnology.com/archives/1970</link>
		<comments>http://www.teamnutztechnology.com/archives/1970#comments</comments>
		<pubDate>Fri, 17 Feb 2012 02:13:55 +0000</pubDate>
		<dc:creator>teamnu5</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[VOXX International to Acquire Hirschmann]]></category>

		<guid isPermaLink="false">http://www.teamnutztechnology.com/?p=1970</guid>
		<description><![CDATA[VOXX International to Acquire Hirschmann Potential acquisition will grow the Company’s international footprint and expand relationships and distribution with automotive OEMs HAUPPAUGE, NY (02.09.12) &#8211; VOXX International Corporation (NASDAQ: VOXX) announced today that it has entered into a definitive agreement to acquire Car Communication Holding GmbH and its worldwide subsidiaries (“Hirschmann” ) for total consideration [...]]]></description>
			<content:encoded><![CDATA[<p>VOXX International to Acquire Hirschmann<br />
Potential acquisition will grow the Company’s international footprint and expand relationships and distribution with automotive OEMs</p>
<p>HAUPPAUGE, NY (02.09.12) &#8211; VOXX International Corporation (NASDAQ: VOXX) announced today that it has entered into a definitive agreement to acquire Car Communication Holding GmbH and its worldwide subsidiaries (“Hirschmann” ) for total consideration of euro 85 million, subject to certain contingencies and adjustments, plus related transaction fees and expenses. Hirschmann, headquartered in Neckartenzlingen, Germany, is a leading supplier of communications and infotainment solutions, primarily to the automotive industry, and counts among its global customers, Audi, BMW, DAF, Daimler, PSA, Renault, and Volkswagen Group, among others. Hirschmann will become a wholly-owned subsidiary of VOXX International.</p>
<p>This acquisition is expected to be financed with a new revolving credit facility and term loan from Wells Fargo Bank, N.A. Subsequent to the close of the transaction, VOXX International expects to have excess availability under the revolving credit facility for general corporate purposes. There can be no assurances that this, or any other transaction, will be completed or as to any terms that may be negotiated.</p>
<p>This transaction is expected to be accretive to cash flow and earnings per diluted share (“EPS”) in fiscal 2013, inclusive of all costs for financing. The Company noted that in CY11, Hirschmann sales were approximately euro 140 million and that both sales and EBITDA are expected to increase in the coming year based on existing OEM agreements and future opportunities.</p>
<p>Patrick Lavelle<br />
Patrick Lavelle, President and CEO of VOXX International, stated, “The acquisition of Hirschmann meets the criteria I had previously laid out and is a natural fit for our Company as we further expand our OEM automotive business. Hirschmann has been supplying automotive manufacturers for nearly 70 years and is a recognized leader in both antenna solutions and mobile tuners with strong, long-term OEM relationships.”</p>
<p>Lavelle continued, “Their capability and existing worldwide digital TV tuner business holds great potential for us as we near deployment of MDTV in the US and we believe it will enhance our overall rear seat entertainment business. Additionally, their strong antenna engineering and R&#038;D resources coupled with our existing RCA, Terk, and Schwaiger capabilities will allow us to expand antenna development and strengthen our position as a leading worldwide supplier.”</p>
<p>John Shalam, Founder and Chairman of the Board, stated, “This acquisition realizes my long term vision for VOXX International, which is to achieve global OEM manufacturing status. The Hirschmann acquisition will not only generate additional revenue; it will also continue our diversification program and create strategic opportunities to leverage Hirschmann’s advanced technologies. This will lead to more advanced and creative mobile electronics products and continued growth with car manufacturers on a worldwide basis.”</p>
<p>Hirschmann is a recognized tier-1 supplier to the automotive industry. With Hirschmann, VOXX International greatly enhances its European automotive offering and relationships, and opens up new opportunities for expansion in other emerging markets, most notably in China. With car sales expected to rise over the coming year, and with much of Hirschmann’s sales under contract given their long-standing relationships and ongoing programs, the Company believes Hirschmann will aid in driving long-term organic growth. Additionally, barring any additional acquisitions, the Company believes with cash generated from operations, it will be in a position to pay down its debt in full within the next five years.</p>
<p>Ludwig Geis, Chief Executive Officer of Hirschmann, stated, “VOXX International has been an innovative leader in the mobile category for decades with a world-class organization and management team, and we have been highly impressed with not only their track record, but also their vision in growing a global business. International car sales are anticipated to rise over the coming years and with VOXX backing, we believe we are well positioned to capitalize on this growth. Like them, our history has been to continuously drive product innovation and also like VOXX International, we believe our products and our people are key differentiators in the marketplace.”</p>
<p>Lavelle concluded, “With Hirschmann as part of VOXX International, I believe we’ll be in an even better position to drive bottom line performance and generate attractive returns for our shareholders. Their business is solid and growing and is highly synergistic to what we have established globally with our OEM partners.”</p>
<p>Wells Fargo Securities, LLC acted as exclusive financial advisor to the Company, and Wells Fargo Bank, N.A. provided the committed debt financing. Levy, Stopol &#038; Camelo served as legal counsel to VOXX International along with Norton Rose Germany LLP.</p>
<p>The proposed transaction is expected to close in March 2012.</p>
<p>Source: PRNEWSWIRE</p>
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