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Sun Hydraulics Buys Stake In High Country Tek, Inc.

 

Sun Hydraulics Corp. (NASDAQ: SNHY News) has confirmed the completion of the previously announced purchase of approximately 35 percent of the outstanding shares of common stock of High Country Tek, Inc. (HCT), and all of the shares of newly issued Series B preferred convertible stock, according to a filing with the Securities and Exchange Commission.

 

Sun Hydraulics will have the right to designate one board member to HCT’s four-member board of directors.  Sun Hydraulics also has an option agreement to buy most of the rest of HCT’s stock in 2010, the filing said.

 

HCT, located in Nevada City, CA, develops, manufactures and distributes ruggedized, microprocessor-based electro-hydraulic control solutions for mobile equipment used in construction, agriculture, mining, transportation and other industries.

 

Sun Hydraulics views HCT as an attractive strategic investment, the filing said.  The deal adds sales personnel and system integration capability that complements Sun Hydraulics’ business, enabling it to get closer to its customers and to better understand their electro-hydraulic system requirements.

 

Sun Hydraulics, based in Sarasota, FL, designs and manufactures high-performance screw-in hydraulic cartridge valves and manifolds for industrial and mobile markets.  For more information about Sun, please visit their website at www.sunhydraulics.com.

 


Sun Hydraulics Pursues Equity Stake in High Country Tek, Inc.

 

SARASOTA, FL, Nov 01, 2007 (MARKET WIRE via COMTEX News Network) -- Sun Hydraulics Corporation (NASDAQ: SNHY) today announced its intention to acquire up to 48% of the shares of High Country Tek, Inc. (HCT), which would represent approximately 36% of its shares on a fully diluted basis. The price is expected to be $2.4 million. The proposed transaction contemplates that Sun Hydraulics will have the option to purchase the remaining outstanding stock after December 31, 2009. Closing is subject to certain conditions, including approval by HCT shareholders.

 

HCT, located in Nevada City, California, designs and manufacturers ruggedized electronic/hydraulic control solutions for mobile equipment markets; products include digital valve controllers, designed specifically for the hydraulic industry, and a patented suite of software products called Intella(TM). The products' modular architecture allows customers to add functionality, reliability, and precision, while preserving their investment in prior application development. More information on HCT can be found at their website, www.highcountrytek.com.

 

"HCT adds products, sales personnel, and system integration capabilities that dovetail into our business strategy," commented Allen Carlson, Sun Hydraulics' President and CEO. "This investment is complementary to our electro-hydraulic efforts, including our earlier investment in WhiteOak Controls. HCT will help Sun get closer to our customers and better understand their electro-hydraulic system requirements. We expect our relationships with HCT and WhiteOak will help us secure additional integrated package and system business that will result in increased market share."

 

Sun Hydraulics Corporation is a leading designer and manufacturer of high performance screw-in hydraulic cartridge valves and manifolds for worldwide industrial and mobile markets. For more information about Sun, please visit our website at www.sunhydraulics.com.

 

Contact:
Richard K. Arter
Investor Relations
941-362-1200
 
Tricia L. Fulton
Chief Financial Officer
941-362-1200
 
 

SOURCE: Sun Hydraulics Corporation

Copyright 2007 Market Wire, All rights reserved.

News Provided by COMTEX

 


 

October, 2007 - New Product Release

DVC7 Subsystem Programmable Control Module

 

 

The DVC7 has been upgraded with more capability than it's predecessor, the DVC5.  The DVC7 is an addition to the DVC family of modules and is intended for subsystem applications like 4 wheel track control.

 

Click here for more information.

 


May, 2007 - New Product Release

Color Graphical Touch Screen Displays for the DVC line

 

D016 & D206

Four new models of Color Graphical Touch Screen Display that seamlessly integrate into the DVC product family of programmable controllers with one programming environment.

 

Color Graphical Touch Screen Display seamlessly integrates into the DVC product family of programmable controllers with one programming environment.

 

Click here for more information.


 

April, 2006 - Technical Release Bulletin

 

DVC System Programming Tool, Program Loader Monitor and BIOS Maintenance Release 4.2

 

Intella Software Suite

High Country Tek is releasing a new revision of the DVC System Programming Tool, the Program Loader Monitor and BIOS files for the DVC module family This release, Rev 4.2 supersedes Rev 4.0, and is intended to ensure all functionality of the DVC System is at the highest possible level consistent with HCT quality standards.  

 

Click here for more information.

 

 


 

March, 2006 - New Product Release

DVC5 Auto Range PWM Output

 

High Country Tek released a new upgraded version of the DVC5.  The proportional outputs in the DVC5 will now automatically adjust (Auto-Range) to drive valve(s) up to 3.0 Amps.  Previous designs of the DVC5 required specification of the maximum coil current prior to ordering. 

 

Additional functionality in the DVC5:DVC5 Standalone Controller

  1. Two more high side outputs

  2. One more digital input

  3. Four programmable LED indicators.


 

February, 2006 - New Product Release

Digital Proportional Valve Driver CardsHDUSN

 

High Country Tek released two new open loop proportional single and daul coil Apitech/Parker VPL compatible valve driver products; the HDU a single coil proportional valve driver and the HDD, a dual coil proportional valve driver.

 

Both provide precise control of a single coil proportional valves and enable the user to add ramping of the valve, regulation up to 3.5 Amps

 

Click here for more information.

 


 

SAE Commercial Vehicle Engineering Congress & Exhibition, October 26 - 28th, 2004

 

High Country Tek participated in the 2004 SAE Commercial Vehicle Engineering Congress & Exhibition in Chicago this past October.  The show was a great success.  We had the opportunity to demonstrate new products as well as build new business relationships. 

 

From left to right: Al McBride - VP Engineering, Jim Tetzlaff - Founder, Alan Klein - President & CEO

HCT Booth showing our hydraulic controls system on the Parker HydraCool Fan Demo unit and our DVC system on the SunSource Race Car Simulator.

HCT Booth showing our DVC hydraulic controls system on the SunSource Race Car Simulator.


October, 2004 - DVC5, Programmable Valve Controller

 

High Country Tek announces the release of the DVC5 programmable valve controller.  The DVC5 Programmable Valve Controller is the latest addition to the DVC family of modules.  The low cost DVC5 has enough processing power and input output functionality when operating as a single control module to support a wide range of hydraulic applications.  Should more capability be needed than provided by the DVC5, then the DVC10 and the DVC expansion modules can be used.  Any DVC5 programs can be transferred to the DVC10 Programming Tool.  As with all of the DVC modules, the DVC5 is packaged in a small rugged enclosure. All connectors are sealed and the module is encapsulated to withstand extreme conditions in the harsh mobile operating environment.

 

The DVC5 comes in two versions.  One with and one without a direct J1939 CAN Bus connector while both versions support an RS232 connected DVC61 text display device.


August, 2004 - Technical Release Bulletin – DVC Product Family & BIOS Maintenance Release 4.0

 

High Country Tek has released a new revision of the DVC System Programming Tool, the Program Loader Monitor and BIOS files for the DVC module family. This release, Rev 4.0, is intended to ensure all functionality of the DVC System is at the highest possible level consistent with HCT quality standards.

 

High Country Tek has also released an upgraded DVC10. The hardware change will improve the speed of the memory in the DVC10. This will improve the DVC10 performance as well as the overall DVC system performance when combined with the 4.0 software. The upgraded DVC10 product will be identified with the revision letter “B”. For simple identification purposes, all DVC10 hardware shipped at Rev B will include a separate revision block on the DVC10 label and include the designation “Rev B”.

 

All DVC10’s and DVC expansion modules produced after 2 August will be shipped with DVC Software Rev 4.0. You may mix revision levels of DVC products in a single system, however, when you install a DVC10 Rev B in your system, HCT recommends that you upgrade all your DVC10’s and expansion modules BIOS’s to Rev 4.0. All DVC products currently in the field will work with DVC10 Rev B. HCT strongly recommends that all applications developed with previous versions of the DVC System Software and Programming Tool be recompiled and downloaded using the Rev 4.0 DVC Software.

 

High Country Tek is continuing to enhance and upgrade our products to meet customer and industry demand. We are working hard to remain your mobile hydraulics control partner. We will keep you informed as we release many more new products over the coming months.

 

Please contact HCT for further information and to receive the DVC Product Family & BIOS Maintenance Release 4.0.


 

July, 2004 - DVC50, Universal Output Expansion Module

 

The DVC50 Universal I/O Module is a slave expansion module that is designed to operate in conjunction with a DVC10 Master Module.  Its large number of inputs and outputs make it ideal for the applications that may need additional proportional outputs with local or remote closed loop capabilities.  A +5Vdc reference voltage is provided to supply power to external sensors.  Four analog (0 to 5Vdc) and two analog/pulse (0 to 5Vdc) inputs can interface to a number of different types of sensors including joysticks, potentiometers and pulse sensors.  Eight digital inputs are provided for a multiple of switch type inputs.  The outputs are the same as the DVC10 Master Module including 6 high-side (sourcing, on/off) and 3 PWM outputs.  The DVC50 communicates to the DVC10 through the CAN Bus and utilizes the RS-232 port for setting the MAC ID (node) and for device monitoring.  The controller is packaged in a small rugged enclosure and encapsulated to withstand extreme harsh environments.


 

 

 

 

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