MILWAUKEE, March 3, 2009 (GLOBE NEWSWIRE) -- STRATTEC SECURITY CORPORATION (Nasdaq:STRT) announces the introduction of a new, high security padlock that operates with your vehicle key. Users simply select a GM, Ford, or Chrysler compatible padlock, insert and turn their vehicle key, and the padlock will be permanently coded to their key! The user need not carry extra keys, remember a combination, or thumb through an endless ring of keys searching for the right one. In addition to 1-Key Convenience, the padlock features a rugged cover and weather-resistant lock shutter, solid zinc core, SAE hardened steel shackle, automotive-grade, 6-tumbler lock cylinder, and thousands more unique key-codes than standard padlocks. "Padlock users appreciate the simplicity of 1-key convenience," says Michael Long, STRATTEC's Director of New Market Development. "And they value the extra security of knowing only their vehicle key will open their padlock." STRATTEC estimates that its padlock is compatible with over 88% of the light trucks on the road since 1998, and is also compatible with select Sterling and International truck keys. The padlock will be available through participating STRATTEC authorized distributors, which may be found at STRATTEClock.com.
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Both Commercial Fleet Managers and Utility and Service-Body Truck buyers can already specify STRATTEC's single key solution for storage compartments, tool chests, and other equipment, enabling the operator to access the entire vehicle with a single key. As a component in handle hardware from several leading manufacturers, utility body makers are increasingly offering the added convenience and security of STRATTEC's codeable locks. STRATTEC currently supplies locks for Utility Truck Bodies through Caseco, BrandFX, and other upfitters, as well as through select manufacturers of Tonneau covers, Tool Boxes, and other factory authorized truck accessories.
STRATTEC designs, develops, manufactures and markets automotive Security Products including mechanical locks and keys, electronically enhanced locks and keys, steering column and instrument panel ignition lock housings; and Access Control Products including latches, power sliding side door systems, power lift gate systems, power deck lid systems and related products. These products are provided to customers in North America, and on a global basis through the VAST Alliance in which STRATTEC participates with WITTE Automotive of Velbert, Germany and ADAC Automotive of Grand Rapids, Michigan. STRATTEC's history in the automotive business spans 100 years.
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For more information, please visit STRATTEClock.com or contact Michael Long, STRATTEC Director of New Market Development (mlong@STRATTEC.com) or Erika Garcia, STRATTEC Account Manager (ggarcia@STRATTEC.com) at 414-247-3333.
Certain statements contained in this release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as "anticipate," "believe," "could," "expect," "intend," "may," "planned," "potential," "should," "will," and "would." Such forward-looking statements in this release are inherently subject to many uncertainties in the Company's operations and business environment. These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company's and its customers' products, competitive and technological developments, customer purchasing actions, foreign currency fluctuations, and costs of operations. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this release. In addition, such uncertainties and other operational matters are discussed further in the Company's quarterly and annual filings with the Securities and Exchange Commission.
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