HQ Motors - BEI Technologies Enters Strategic Relationship With ThinGap Motor Technologies

PR Newswire

SAN FRANCISCO, Apr 14, 2003 /PRNewswire-FirstCall via COMTEX/ -- BEI Technologies, Inc. (Nasdaq: BEIQ) and ThinGap Motor Technologies have executed a Strategic Supply and Distribution Agreement for the purpose of development, marketing and production of advanced motor products. This relationship, including a BEI equity investment in ThinGap, couples the strengths of BEI in motion products and their associated markets with the revolutionary motor technology developed by ThinGap. ThinGap has developed a proprietary electromotive wireless coil and armature technology that provides better efficiencies and power densities. Products will be targeted into factory automation, medical, portable instrumentation and military/defense markets.

"BEI is excited about our new relationship with ThinGap," says Gregg Stokely, VP Commercial Marketing of BEI Technologies. "The technology they have developed is truly unique and has potential to redefine efficiency and servo bandwidth in the application of electric motors. We expect to help ThinGap motors become a disruptive technology in the marketplace with our experience and investment."

"This strategic relationship with BEI will accelerate the sales of ThinGap's novel ultra-efficient motors," reports Doug Crawford, Chief Marketing Officer of ThinGap. "We intend to leverage BEI marketing expertise and excellent motor manufacturing capability to accelerate introduction of ThinGap's products into the motion market. ThinGap will utilize BEI optical encoder motor feedback products and drive electronics for many motor control and servo applications. Agreements are in place to facilitate contract manufacturing of motors and motor components to significantly supplement our current manufacturing capacity with high volume, automated motor production."

BEI Technologies, Inc. is an established manufacturer of electronic sensors, motors, actuators and motion products used for factory and office automation, medical equipment, military, aviation and space systems. In addition, sales to manufacturers of transportation equipment including automobiles, trucks and off-road equipment have become a significant addition to the Company's business in recent years. The Company's micromachined quartz yaw rate sensors are being used in advanced vehicle stability control systems, and a significant increase in the production of those sensors has been in progress since the middle of 1998. BEI also manufactures electronic steering wheel position sensors, seat-memory modules; throttle position and pressure sensors and other devices used in automotive systems.

ThinGap(TM) Motor Technologies makes an award winning revolutionary line of DC ironless core motors, without wire windings or slotted laminations. These brush and brushless motors are utilized for industrial applications including: robots, medical instruments and devices, power tools, machine tools, factory automation, air bearing spindles, and unmanned aerial vehicles. Previously, all manufacturing has been done at ThinGap's Technology Center in Ventura, California.

Except for historical information, this news release may be deemed to contain forward-looking statements that involve risks and uncertainties, including statements with respect to future timely development, acceptance and pricing of new products; potential impact of competitive products and their price; the ability to manufacture products in sufficient volume on an efficient and timely basis; general economic conditions as they affect the Company's customers and strategic partners, as well as other risks detailed from time to time in the Company's reports to the Securities and Exchange Commission, including the Company's Form 10-K for fiscal 2002.