KVH TracVision A5 Named Finalist in 2005 Automotive News PACE Award Competition
MIDDLETOWN, R.I.--(BUSINESS WIRE)--Oct. 19, 2004-- KVH Industries, Inc., (Nasdaq: KVHI) is a finalist in the prestigious 2005 Automotive News PACE Award competition. The 11th annual PACE (Premier Automotive Suppliers' Contribution to Excellence) Award is presented by Automotive News, Capgemini, and the Transportation Research Center, Inc. (TRC, Inc.). KVH was recognized for its TracVision A5 low-profile satellite TV system for vehicles.
"It is an honor to be selected by Automotive News and the PACE judges as a finalist for this prestigious award," said Martin Kits van Heyningen, KVH's president and chief executive officer. "Receiving static-free, live television in automobiles is a technical challenge that other companies have tried and failed to overcome for decades. We solved that problem with the invention and production of the innovative TracVision A5, the first and only low-profile satellite TV system available now for passenger vehicles."
The TracVision A5 has opened the entire automotive video market to mobile DIRECTV(R) service through the development of hybrid phased-array antenna technology that is both practical for use aboard an SUV, minivan, or other passenger vehicle and affordable to consumers. Vehicles equipped with a passenger entertainment system and TracVision A5 can receive crystal-clear, digital-quality live DIRECTV programming while on the move rather than be limited to pre-recorded video content or static-plagued reception of location broadcast TV. Just as important, the DIRECTV remote control, programming guide, and interface operate exactly the same way as the DIRECTV programming that more than 12.5 million subscribers already enjoy in their homes, offering a seamless transition from entertainment in the home to entertainment on the road.
Commenting on the importance of this award to KVH and its potential OEM partners, Robert Riedford, KVH's director of business development for satellite systems, remarked, "Our selection as a PACE Award finalist validates the interest we are seeing from automotive OEM customers, who have recognized TracVision satellite TV as the first viable option to get live digital-quality TV content into cars. We are excited to be working with some of the most respected automotive manufacturers in the industry to drive our TracVision technology into production applications over the next few years."
Recognizing superior innovation, technological advancement and business performance, the Automotive News PACE Award is open to suppliers that contribute products, processes, materials or services directly to the manufacture of cars or trucks. The award is accepted around the world as the industry symbol of innovation.
KVH is a finalist in the Product category, which recognizes innovations in new products or services or in new product and service development and introduction processes that have significant market impact and act as "game changers" in the automotive industry. The Automotive News PACE Award also recognizes suppliers' superiority in three additional categories: Product (Europe); Information Technology and Services, Manufacturing Processes and Capital Equipment; and Open. KVH, along with other Automotive News PACE Award finalists, will undergo an extensive review process - including a site visit - by industry, academic, and business leaders to select award winners, to be announced at a gala ceremony in Detroit on April 11, 2005.
For complete details of the 2005 Automotive News PACE Award, including a listing and profile on KVH, visit www.automotivenews.com/pace, www.us.capgemini.com/PACE, or www.trcpg.com/pace.htm.
Note to Editors: Details regarding KVH's complete line of TracVision satellite TV antennas are available at http://www.tracvision.com. High-resolution images of the TracVision A5 are available for download and editorial use at http://www.kvh.com/mediasupport.
KVH Industries, Inc., designs and manufactures products that enable mobile communication, navigation, and precision pointing through the use of its proprietary mobile satellite antenna and fiber optic technologies. The company is developing next-generation systems with greater precision, durability, and versatility for communications, navigation, and industrial applications. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results could differ. Factors that may cause such differences include, among others, those discussed in KVH's most recent Form 10-Q filed with the SEC. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments.
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Chris Watson, 401-847-3327
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