Burgeoning growth for leading NZ electronics Co.

Media Release – July 3 2003

Burgeoning growth for leading NZ electronics company

A leading New Zealand electronics company Dynamic Controls today reported burgeoning export growth of over 40 percent.

A huge growth in demand for power wheelchair electronics and contract manufacturing has seen a giant leap in growth for Dynamic Controls, chief executive John McCombe said today.

``Dynamic is now one of the top three electronic manufacturers in New Zealand. Our revenue growth is over 40 percent and our unit sales growth is almost 50 percent ahead of 2002,’’ he said.

Ninety eight percent of Dynamic products are exported to markets in Europe, Asia and the USA.

Christchurch-based Dynamic Controls is owned by Invacare Corporation which is listed on the New York Foreign Exchange, has revenues of US $US1.1billion and is the largest manufacturer of home medical equipment in the world.

The company currently employs 535 people, in its Christchurch operation, up from 380 since last December.

Mr McCombe said Dynamic believe they were now the third largest electronic manufacturers in New Zealand in terms of revenue, units produced and staff numbers.

The company was founded in 1972 and later designed the first microprocessor based wheelchair controller in the world.

Three years ago they began external contract manufacturing operations and today has partnerships in manufacture with a number of New Zealand and USA based customers.

``Dynamic Controls' latest release to the market is a totally new concept for drive-only wheelchair controllers.

``New technology software blocks have been used in the design. The product has been ergonomically designed with substantial user input into the development,’’ Mr McCombe said.

``Our staff are aware of the difference our products make to people's lives. We know if one of our controller fails, we take away a person's mobility. The reputation of our products is second to none in our international market place.’’

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