Prestolite Receives Prestigious Frost & Sullivan Award
SOUTHFIELD, MI - Each year Frost & Sullivan presents its Competitive Strategy Leadership Award to a company whose competitive strategy has yielded significant gains in market share - gains which Frost & Sullivan analysts "expect to produce lasting, precedent-setting trends in the industry." The 2005 recipient for this award is the North American ignition wire sets aftermarket segment of Prestolite Wire Corporation.
According to Frost & Sullivan, "Prestolite Wire has executed an innovative strategy within the existing mature market landscape, which has empowered the company to take share from entrenched market participants. The company has successfully captured the attention of major customers in the value chain, and its competitors active in the North American aftermarket."
To select the Award recipient, Frost & Sullivan analysts quantified several market factors for each market participant, according to predetermined criteria. The research process included interviews with industry experts, industry participants and end-users, as well as extensive secondary data research. The Award recipient must also excel on one or more of the following criteria: percent growth in revenue; degree of strategy innovation; successful partnerships, alliances, mergers and acquisitions; market share growth; mind share growth; correlation between revenues and investment; penetration rate of new markets and organizational restructuring.
Prestolite's ignition wire sets competitive strategy, which was supported by exhaustive market research, revolves around its ability to build on its OE experience to introduce an ignition wire set that precisely met the installers' preferences for fit, form and function. Prestolite also built strong alliances with original equipment service (OES) channel. This strategy has allowed the company to gain greater mind share within established OES brands and through the aftermarket, distinguishing them from other participants in the market.
About Prestolite Wire Corporation
Prestolite Wire Corporation has been a leading supplier of automotive ignition wiring products since 1907 when the company first introduced the focused beam headlamp. Today, Pretsolite is one of the world's largest original equipment and aftermarket suppliers of ignition wire sets, battery cables, specialty harnesses, automotive primary wire, ABS cable, welding cable and general industrial cable.
In 1986, Prestolite Wire Corporation became a wholly-owned subsidiary of the Henley Group, Inc. On January 1, 1989, Prestolite Wire Corporation became a privately held company. The company is headquartered in Southfield, Michigan.
