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MTS Systems Corporation
MTS Systems Corporation
11/12/2012 | Press release
NEW MTS STEERING TEST SYSTEM INNOVATION ACCELERATES THE DEVELOPMENT OF SAFER, MORE FUEL-EFFICIENT AND BETTER HANDLING VEHICLES
distributed by noodls on 11/13/2012 09:41
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Eden Prairie, MN. - November 12, 2012 -MTS Systems Corporation (NASDAQ: MTSC), a leading global supplier of high-performance test systems and position sensors, announced the demonstration of a new, state-of-the-art electric power steering testing system. This system is designed to help automotive manufacturers develop more effective and advanced electric power steering (EPS) systems, enabling them to better meet consumer demand for greater fuel efficiency and vehicle performance. "This innovation is a direct result of the unmatched expertise that MTS has acquired over four decades, by working closely with the leading automotive developers," said Rich Baker, Senior Vice President of MTS Test. "Driver feel often dominates new vehicle reviews by media experts and the ultimate popularity of a new model with consumers, and EPS can be tuned to provide very specific driver feedback. Use of this technology is fast becoming the industry-preferred development approach, enabling our customers to bring differentiated products to the marketplace quicker." EPS provides multiple advantages for automotive design, including reduced weight and engine noise, as well as redirecting more of the available horsepower to the vehicle. The increased available horsepower can be translated into higher performance or enhanced fuel-efficiency at the discretion of auto developers, to meet an ever more demanding range of consumer needs and governmental requirements around the world. While EPS technology is vital to improving vehicle fuel-efficiency, handling, comfort and safety, it creates new challenges for vehicle developers. This is particularly true when they are evaluating steering effort, or driver feel. These tests hinge on the ability to measure and replicate small-scale torsional characteristics that conventional test systems are unable to detect. To solve the problem, MTS developed a test system that is 350 times more sensitive than other designs, making precise, repeatable low-torque measurement a reality for the first time. Test labs are finding the new system a powerful tool for improving testing accuracy and reducing time to market. MTS has sold more than ten steering test systems since this module's introduction last year, a rate well above typical new technology adoption rates. "Our innovative steering test system is an ideal example of MTS anticipating market trends and working closely with our customers in the automotive development arena," said Dr. Jeffrey Graves, MTS President and CEO. "As we continue to work intimately with our customers to understand their rapidly changing development needs, we are directly helping them to resolve some of the most difficult challenges they face in today's complex global marketplace. These are truly exciting times for MTS." About MTS Systems Corporation MTS Systems Corporation is a leading global supplier of high performance test systems and position sensors. The Company's testing hardware and software solutions help customers accelerate and improve their design, development, and manufacturing processes and are used for determining the mechanical behavior of materials, products, and structures. MTS' high- performance position sensors provide controls for a variety of industrial and vehicular applications. MTS had 2,003 employees and revenue of $467 million for the fiscal year ended |
This release contains "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. Words such as "may," "will," "should," "expects," "intends," "projects," "plans," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements.
Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are risks related to: the Company's significant international business; volatility in the global economy; competition; failure to achieve the Company's growth plans for the expansion of its business; difficulties obtaining the services of skilled employees; failure to protect its intellectual property effectively or infringement upon the intellectual property of others; product liability and commercial litigation; difficulty obtaining materials or components for its products; government regulation; the irregularity and development of sales, delivery and acceptance cycle for the Company's products; the Company's customers are in cyclical industries; interest rate fluctuations; the Company may be required to recognize impairment charges for long-lived assets; disruption and costs arising from management transition; an adverse outcome of the ongoing government investigation and proceedings that results in fines, penalties, or an extended suspension or debarment; and increased governmental and regulatory scrutiny or negative publicity resulting from the current investigation. For a more thorough discussion of the risks associated with ourbusiness, see the "Risk Factors" section in the Company's most recent SEC Form 10-K, 10-Q and 8-K filings. Except as required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
