Product category:
Pneumatic Valves and Controls
News Release from: Norgren
Edited by the Engineeringtalk Editorial
Team on 25 November 2005
GT Development joins Norgren group
GT Development is to be acquired by the international engineering business IMI, and will be aligned with the global Norgren group.
GT Development is to be acquired by the international engineering business IMI, and will be aligned with the global Norgren group GT Development is a highly innovative US company dedicated to customised onboard vehicle solutions for air management, braking systems, cab controls, fuel systems and seat controls
Norgren is a leading global supplier of motion and fluid control solutions with a major presence in the global truck market, and is the largest subsidiary within the GBP 1.6billion IMI group.
Headquartered in Auburn, Washington, GT Development was founded in 1976.
Revenues for the year ended June 2005 were $39 million.
GT Development's high reputation and market share are based on innovation and strong IP (with a high proportion of revenue coming from patented products) as well as on expert industry knowledge and fast response to the demands of its customers: primarily class 8 heavy duty truck manufacturers and their tier one/two OEM suppliers.
GT Development employs over 200 people, including engineers specialising in electronics, fluid dynamics, thermodynamics, pneumatics and electromechanical designs.
Norgren is a leading global supplier of onboard pneumatic and electronic solutions for the commercial vehicle market, with extensive experience and a 30 year track record in chassis-cab and powertrain applications.
Turbochargers, valve block manifolds, air suspension and air braking are areas of particular specialty.
Norgren has international design, manufacturing and project management capabilities, with around 500 staff dedicated to the truck sector.
Both companies share a common vision of creating competitive advantage for customers through a close understanding of their business needs and processes, and the development of inventive application-specific solutions.
With many common customers, there are significant opportunities for further strengthening these relationships and enhancing an already strong combined product range via collaborative development of onboard vehicle solutions which meet new legislation, increase fuel efficiency and improve driver comfort - with particular emphasis on added-value engineering and further developing systems and subsystems functionality.
Mike Bozich, President of GT Development said: " This is a very welcome and positive move which will secure a strong future for GT Development and provides many excellent opportunities for sustained growth".
"We are absolutely convinced that Norgren will bring the right depth of market understanding and proven track record - as well as all the advantages of a truly global sales and service organisation backed by the financial strength of IMI".
Jim Mannebach, CEO and President of Norgren said: "We recognise and value highly GT Development's reputation and proven expertise in the truck market, combined with their innovative spirit and strong technical resources".
"There is an excellent fit between our two companies' range and capabilities".
"This will create a powerful new partnership which brings many additional advantages to our current and future customers".
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