Amerigon has acquired W.E.T. Automotive Systems

Amerigon Inc. acquired 76.3% of the shares of W.E.T. Automotive Systems AG from a majority owner and other shareholders in form of a tender offer recently completed.

The tender offer valued each W.E.T. share at Euro 40 and the whole of W.E.T.’s outstanding shares at Euro 121.6 million. The funds for the acquisition were provided by cash resources of Amerigon and bank and equity financing.

Amerigon develops products based on its advanced, proprietary, efficient thermoelectric (TE) technologies. The Company’s current principal product is its proprietary Climate Control Seat® (CCS®) system, a solid-state, TE-based system that permits drivers and passengers of vehicles to individually control the heating and cooling of their respective seats. Amerigon maintains sales and technical support centers in the US, Japan, Germany, England and Korea. In 2010 Amerigon generated sales of US$ 132 million.

W.E.T. operates worldwide as a developer, manufacturer and retailer of heating systems, interior equipment and accessories used in automobile seats and other automotive and electronic applications in the automotive industry. W.E.T. has customer service centers and production facilities in Europe, Asia and North America. In 2010, W.E.T. generated revenues of Euro 227 million. Lincoln International acted as exclusive financial advisor to Amerigon. T

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