NORTHVILLE, Mich. and DONGGUAN, China, May 22, 2013 /PRNewswire/ -- Gentherm Incorporated (NASDAQ-GS: THRM), the global market leader and a developer of innovative thermal management technologies, and De Rucci Beddings Co Ltd., a mattress and bedding specialist based in Dongguan, Guangdong, China, announced today the signing of an agreement to manufacture and sell a line of heated and cooled mattress products in China.
Gentherm will supply its Climate Control Sleep System™ (CCSS™) for installation into specially designed mattresses manufactured by De Rucci. The mattresses will be sold by De Rucci and its distributors under the De Rucci 3D brand and be available in king sizes in select markets in China beginning in the autumn of 2013.
"China is evolving into the world's biggest market for luxury goods. As a result, a growing number of Chinese consumers are realizing the importance of a comfortable bed and a good night's sleep," said WANG Binkun, De Rucci President. "Gentherm's CCSS technology meets this demand for luxury, and allows consumers to adjust their personal sleeping climate to the temperatures they desire."
Gentherm, known originally for its popular heated and cooled seat systems for the automotive market, initially launched a line of heated and cooled bedding products in the U.S. in the fall of 2011. The Company generated about $1.4 million in revenues from bedding products in 2012 and is expected to at least double that in 2013.
"Bedding has become a key product for us. The popularity of CCSS in the U.S. is gaining traction as we prepare to launch it in other key markets around the world," said Gentherm President and Chief Executive Officer Daniel R. Coker. "For the Chinese market, we looked for a manufacturer with extensive retail presence throughout the country and De Rucci fit that profile."
About CCSS
The Climate Control Sleep System (CCSS) is a highly-efficient, solid state thermoelectric device that thermally conditions ambient room air which is then distributed by high performance blowers to the surface of the mattress. Each side of the mattress can be operated by remote controls independently by the occupant to 5 levels of heating or cooling to comfort. A clock and timer are also included in the master control unit to allow for preconditioning of the mattress and cycling in minute or hour increments for up to 8 hours of individualized comfort.
CCSS is currently available in the YuMe™ (www.yumebed.com) line of mattresses sold exclusively at Mattress Firm locations in the U.S. and will be launched in a line of mattress products in the United Arab Emirates this year.
Gentherm is the largest supplier of thermoelectric systems for cars, with more than 10 million thermoelectric-based seat systems sold.
About De Rucci
De Rucci Beddings Co Ltd, a mattress and bedding specialist based in Dongguan, Guangdong, China, was established in 2004 and has over 1400 stores in Asia. De Rucci is a global healthy sleeping resource integrator, who is committed to providing customers with comfort yet contemporary bedroom furniture in the highest quality possible. The company's team of experts is dedicated to inventing a healthy sleep system that helps customers have a better night's sleep. De Rucci has become one of the fastest growing brands in China today. For more information, go to http://www.derucci.com.
About Gentherm
Gentherm (NASDAQ-GS:THRM) is a global developer and marketer of innovative thermal management technologies for a broad range of heating and cooling and temperature control applications. Automotive products include actively heated and cooled seat systems and cup holders, heated and ventilated seat systems, thermal storage bins, heated seat and steering wheel systems, cable systems and other electronic devices. The Company's advanced technology team is developing more efficient materials for thermoelectric and systems for waste heat recovery and electrical power generation for the automotive market that may have far-reaching applications for consumer products as well as industrial and technology markets. Gentherm has more than 6,000 employees in facilities in the U.S., Germany, Mexico, China, Canada, Japan, England, Korea, Malta, Hungary and the Ukraine. For more information, go to www.gentherm.com.
Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties, and actual results may be different. Important factors that could cause the Company's actual results to differ materially from its expectations in this release are risks that sales may not significantly increase, additional financing, if necessary, may not be available, new competitors may arise and adverse conditions in the automotive industry may negatively affect its results. The liquidity and trading price of its common stock may be negatively affected by these and other factors. Please also refer to Gentherm's Securities and Exchange Commission (SEC) filings and reports, including, but not limited to, its Form 10-Q for the period ended March 31, 2013, and its Form 10-K for the year ended December 31, 2012; all of which are available free of charge on the SEC's website at www.sec.gov. Gentherm expressly disclaims any intent or obligation to update any forward-looking statements
SOURCE Gentherm Incorporated