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21st Nov. 2005
Seattle, Washington
On Saturday, November 19th, IMI plc. purchased GT Development Corporation. Details of the acquisition and additional company background are available for review on the Norgren website (www.norgren.com) as well as GT's website (www.gtdev.com).
GT management initiated the process of selling the company in 2004 at the request of the company founders. IMI'S purchase of GT, and subsequent integration with Norgren, results in a company that is ideally positioned to fulfill its potential as a truly world class supplier of highly engineered solutions to the commercial vehicle industry.
Mike Bozich will continue in his current role as President of GT Development. According to Mr. Bozich, "GT is fortunate to have a 30-year history of delivering innovative engineered components to the commercial vehicle industry. We are extremely pleased at the prospect of merging GT's responsive and creative heritage with the global stature and resources of Norgren."
No short term changes to GT's organization are planned. Going forward, as GT and Norgren integrate product development resources and application expertise, the company's product offering will expand. According to John Adami, sales leader at GT, "This will be just one of the many synergies that will make Norgren - GT Development a dominant supplier to this industry. We believe our mutual customers will view the new organization as a highly capable supplier of value-added solutions."
In 2004, GT Development Corporation manufactured and shipped over 4.5 million components to Class 8 OEM's and tier 1 suppliers. GT is an ISO 9001/QS9000 registered company based in Seattle Washington, and has over 200 employees. GT's product line includes fuel and air system components, solenoid air valves and electronic controls. Additional information on these and other products manufactured by GT Development is available by visiting GT's web page at www.gtdev.com, or by calling GT's Customer Service Department at 1-800-229-1875 and requesting product literature.