Stoneridge and Orlaco Sign Strategic Alliance

July 27, 2015

Stoneridge Inc. and Orlaco Products BV have executed a strategic alliance agreement to develop, manufacture and sell electronic mirror replacement systems.

Under the agreement, the two companies will design, develop and produce mirror replacement systems targeted initially at the commercial vehicle and off road transportation markets. Stoneridge will act as Tier 1 and be responsible for the overall system and vehicle interior products and Orlaco will be responsible for the vehicle exterior products. These systems will comply with ISO 16506:2015 Camera Monitor Systems.

"Our companies have enjoyed an excellent working relationship that gives us all confidence in our collective ability to deliver an innovative solution to the market," said Henrie G. van Beusekom, chief executive officer of Orlaco. "This strategic alliance is an effective method to introduce our patented technology with an industry leader to provide the market with an integrated solution that leverages our combined strengths”. "The true strength of this new technology platform is that we are spectaculary improving mirror functionality by providing night-vision, automatic safety panning function during truck-turns and possibility of video-recording for analysis and security.”

"This strategic alliance agreement brings together a global leader in the instrumentation and electronics markets and a premier cameras supplier," said Jon DeGaynor, chief executive officer of Stoneridge, Inc. “The MirrorEye mirror replacement system has received high praise in driver trials under a variety of driving conditions. MirrorEye increases the driver’s field of view, enhances night visibility and improves safe operating conditions for drivers and fleet owners. In addition to the compelling safety benefits, the small exterior design of this system compared to traditional mirrors improves fuel economy by enhanced aerodynamics. Road testing indicates significant reduction in fuel consumption. This best-in-class mirror replacement solution reaffirms our companies' continuing commitment to deliver innovation and value to customers worldwide."