|Standex Electronics Achieves Global Automotive Supplier Certification|
ISO/TS 16949:2002 Certification is the International Quality
Standard Adopted by Vehicle Manufacturers
Worldwide for Automotive Suppliers
SALEM, N.H.--(BUSINESS WIRE)--Jan. 7, 2003-- Standex International Corporation (NYSE:SXI) announced today that its Standex Electronics subsidiary has achieved ISO/TS 16949:2002 Certification from the International Automotive Task Force (IATF), a worldwide consortium of automobile manufacturers and trade associations that has adopted a single international quality management system for parts suppliers.
Standex Electronics, a world leader in the design and manufacture of electronic components, has become one of the first companies in the world to achieve certification to the new ISO/TS 16949:2002 Automotive Quality Management System standard. Standex was audited by Eagle Registrations Inc. and that audit was the first to be witnessed by the International Automotive Oversight Bureau (IAOB) in the United States. The IAOB functions as the U.S. oversight organization for the IATF.
"Standex Electronics has earned this certificate by implementing a process approach which focuses on developing, implementing, and improving the effectiveness of its Quality Management System specifically to enhance total customer satisfaction and achieve business performance improvement," said Roger Fix, President and CEO of Standex International. "ISO/TS16949:2002 is a globally recognized automotive sector requirement that takes Quality Management System certification to a new level by aligning many existing global automotive quality requirements. As such, it is the next generation norm for the industry and we are very pleased that Standex Electronics position of leadership is affirmed with one of the first certifications." This new automotive standard replaces the QS-9000:1998 Quality Management System standard and emphasizes customer oriented processes designed to exceed the customer's expectations with continual improvement, defect prevention and the reduction of variation and waste in the supply base.
About The International Automotive Oversight Bureau (IAOB):
The IAOB is an International Automotive Task Force (IATF) oversight office. Its members include DaimlerChrysler, Ford Motor Company, General Motors and the Automotive Industry Action Group. The IAOB was established to implement and manage the ISO/TS 16949 registration scheme oversight activities on behalf of the IATF and support the IATF in the pursuit of global harmonization with other automotive manufacturers.
About The International Automotive Task Force (IATF):
The IATF is an "ad hoc" group of automotive manufacturers and their respective trade associations, formed to provide improved quality products to automotive customers worldwide. IATF members include the following vehicle manufacturers: BMW, DaimlerChrysler, Fiat, Ford Motor Company, General Motors (including Opel Vauxhall), PSA Peugeot-Citroen, Renault SA, Volkswagen and their respective trade associations - AIAG (U.S.), ANFIA (Italy), FIEV (France), SMMT (U.K.) AND VDA (Germany).
About Standex Electronics
Standex Electronics, a subsidiary of Standex International Corporation (NYSE: SXI), designs and manufactures a wide variety of custom electronic and electro-mechanical components including low and high frequency magnetics, antenna and RF magnetics, reed switches and relays, proximity and fluid-level sensing products, connector products and custom packages. Standex Electronics' website can be visited at www.StandexElectronics.com.
About Standex International Corporation
Standex International Corporation is a multi-industry manufacturer in three broad business segments: Food Service, Industrial and Consumer with operations in the United States, Europe, Canada, Australia, Singapore and Mexico. Standex International's website can be visited at www.Standex.com.