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BEI Technologies and ThinGapTM Motor Technologies Announce Strategic RelationshipContact: Bob Thomas (818) 761-8405 bobthomas@graphicstar.com BEI Technologies Completes Investment in Unique ThinGap Motor Technology and Implement Development, Marketing and Distribution Relationship. VENTURA, CALIFORNIA - APRIL 14, 2003 - BEI Technologies, Inc. (Nasdaq:BEIQ) and ThinGap Motor Technologies, an early stage California motor technology company, have implemented a strategic supply and distribution agreement for the purpose of development, marketing and production of advanced motor products incorporating ThinGap's patented motor technology. The wireless and slotless electromotive coil technology bring the magnetic forces of a motor together in a unique way providing better efficiency for lower power costs and higher power densities for more power in a much smaller package. "The relationship couples the strengths of BEI in motion control products with ThinGap's revolutionary motor technology that will benefit our customers with better efficiency and higher power," said Gregg Stokely, VP Commercial Marketing of BEI Technologies. "The technology ThinGap has developed is truly unique and has potential to redefine efficiency and servo bandwidth in the application of electric motors. With our experience and investment, we expect to help ThinGap become a disruptive technology in the marketplace." "The strategic relationship, which includes an equity investment by BEI, will let us leverage BEI's marketing expertise and best in class motor manufacturing capability to accelerate acceptance and sales of ThinGap's products for motion control applications in the factory automation, medical, portable instrumentation, aerospace and defense markets," said Doug Crawford, Chief Marketing Officer of ThinGap. "Just in fractional horsepower motors, which are the least efficient and largest market, ThinGap's motors can reduce energy consumption by 30%." The agreement calls for ThinGap to utilize BEI optical encoder motor feedback products and drive electronics for appropriate motor control and servo applications. BEI will facilitate contract manufacturing of motors and motor components, significantly supplementing ThinGap's manufacturing capacity with high volume, automated motor production. About BEI Technologies, Inc.BEI Technologies, Inc. is an established manufacturer of electronic sensors, motors, actuators and motion control 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. For additional information about BEI Technologies 's products and services, please visit www.beisensors.com. About ThinGap™ Motor TechnologiesThinGap™ 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. For additional information about ThinGap™ Motor Technologies' products and services, please visit www.thingap.com. |
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