New Cobra OES Contract in China

07 January 2009

Cobra Automotive Technologies SpA, a leading company in the field of security solutions for the automotive industry, announced today that its Chinese operation - Cobra (Beijing) Automotive Technologies Co., Ltd. has signed a contract with Shanghai Volkswagen Automotive Co., Ltd. for the supply of High Security Antitheft Alarm System, featured with intrusion detection and anti-sabotage siren as Genuine Accessory (OES - Original Equipment Services).
Shanghai Volkswagen, established in mid 80`s, is a joint venture of SAIC Motor (Shanghai Automotive Industry Corporation) and Volkswagen, currently manufactures and distributes 2 brands: Volkswagen and Skoda. In 2009, Cobra will supply Shanghai Volkswagen with Antitheft Alarm systems dedicated for various vehicle models of Shanghai VW.

"The fact that Shanghai VW, for the first time, has decided to introduce the antitheft in its Genuine Accessory catalogue demonstrates a need for property security in China (protection against theft of vehicle and from vehicle)" - declared Fabrizio Finocchiaro, Managing Director of Cobra Beijing - "The customers of SVW (Skoda and SVW networks) will now have the possibilities to upgrade the security of their vehicles with a product especially developed for their cars. At the same time 4S Stores (car dealers) will have the possibility to gain extra profit proposing a High-value genuine accessory." During 2009 Cobra Beijing expects to sign similar contracts with other important vehicle manufacturers in China. Cobra Management estimate additional revenues from this contract for around 14 million RMB (1.4 million Euro) in 2009.
Cobra Automotive Technologies, based in Italy, is a leading international group in the field of security solutions for the automotive industry.

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