Schefenacker Vision Systems Germany GmbH changes name to “odelo – Automotive Signal Lights”

Effective 1 February 2008, Schefenacker Vision Systems Germany GmbH (SVS Germany), a leading manufacturer of automotive signal lights, will change its name and will trade under the new name of „odelo – Automotive Signal Lights“. The renaming, which today has been approved by the management board, will be implemented on 1 February 2008. From this day, the new odelo GmbH company website (www.odelo.com) will go online. At the company headquarter at Schwaikheim as well as at the German company sites at Geislingen, Oberrot and Kamp- Lintfort, Schefenacker nameplates and logos will be replaced by the new odelo logo.

„With the renaming into odelo we express even more the clear separation and distinction from the manufacturer of automotive mirror systems Schefenacker (now Visiocorp). Thereby we emphasise our position as an independent manufacturer of innovative tail lights and signal lights for the automotive industry. In this process, the new name odelo on the one hand conveys positive connotations, sounds likeable, innovative and modern. On the other hand, we deliberately chose a made-up word for the renaming of the company, because we clearly wanted to distinguish our company from the tradition and history of the Schefenacker brand. As odelo, we are ahead of a bright and unencumbered future and will give our customers the opportunity to get to know our company, its products and services in an unbiased way”, says Dr. Zeljko Matijevic, managing director of Schefenacker Vision Systems GmbH.

With the renaming of the SVS holding company, the affiliate companies will also be renamed. With the name change, odelo highlights the togetherness and connection off all business units, as well as the crucial role every single company division plays for the future success for the leading manufacturer of tail and signal lights. Along with odelo GmbH, the subsidiaries will be renamed to odelo Deutschland GmbH (formerly ULO Fahrzeugleuchten GmbH), odelo Ersatzteile GmbH (formerly SVS Oberrot GmbH), and odelo LED GmbH (formerly Global Light Industries GmbH). The ULO brand which has been successfully established in the after market business for many years, will remain unaffected by the name change.

Following the commercial and legal separation of the Lighting and Mirrors segments of Schefenacker in June 2007, Schefenacker Vision Systems repositioned to focus on its strategy of being an independent manufacturer of tail and signal lights for premium automotive manufacturers. As part of a comprehensive restructuring concept agreed upon with employee representatives and labour union, odelo GmbH aims to achieve the financial turnaround and a positive return by the year 2010.

In order to maintain and increase the leading position in its key markets in the future, odelo GmbH therefore will reinforce its investments in the field of Research and Development.

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