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Dynamic Controls poised for growth with $10mn

Media Release – May 19, 2004

Dynamic Controls poised for growth with $10 million investment

A leading New Zealand electronics company Dynamic Controls is well positioned for future growth with a major $10 million investment announcement today.

Dynamic Controls is the world’s largest manufacturer of control systems for wheelchairs and scooters; and the largest New Zealand electronics contract manufacturer.

Dynamic is replacing its current business information system which has been used by the company for over 10 years. The new investment is one of the best systems available and involves software company Peoplesoft, formerly JD Edwards.

It will link information faster from across the business, providing a better platform for the company's ongoing growth.

Once in place, the new system will give Dynamic better tools for continuing to improve business operations which will substantially benefit customers.

``The $10 million investment demonstrates our commitment to longer term growth plans,’’ chief executive John McCombe said in Christchurch today.

``We expect the new system will go live by the end of the year and we will be well poised for further expansion.

``We are continuing to invest heavily in research and development and plant and equipment to ensure that we retain our lead position.’’

Dynamic have put experienced people from within the business on the project full time to lead the external consulting team

The company has been the world's leading manufacturer of controls for powerchairs and scooters for the last 30 years. It has centres in Europe, United States, Asia and Australasia.

Dynamic is one of the top three electronic manufacturers in New Zealand in terms of revenue, units produced and staff numbers. Ninety eight percent of Dynamic products are exported to markets in Europe, Asia and the USA.

The Christchurch-based based company is owned by Invacare Corporation which is listed on the New York Stock Exchange, has revenues of $US1.3billion and is the largest manufacturer of non-acute home medical equipment in the world.

The company currently employs 480 people, in its Christchurch operation, up from 380 since in December 2002.

Dynamic Controls was founded in 1972 and it later designed the first microprocessor based wheelchair controller in the world.

Ends

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