KEY POINTS:
Wellington Drive Technology said today a major international appliance company had placed an order for the first stage of its motor drive development project.
The new project is targeted to deliver a drive system for a household appliance that is widely used in developed countries. The company uses over five million units annually.
WDT would not reveal the name of its new customer but said it was a respected household name in most countries, and stood out as an industry leader for innovation in appliance design.
The new system is intended, among other improvements, to reduce the drive system's production and running costs through electricity savings. Both European and United States versions of the drive system are being developed.
A target date for introduction to production has not yet been set.
The company said this project is another application of the WDT's newly-developed "Monsoon" motor, electronics and software technology.
WDT's Monsoon system offers improved production costs compared to other known electricity saving motors.
It said it was in discussions with other companies over similar projects.
WDT shares were down 1c to 44c shortly after today's announcement. They have risen from 41c a year earlier but have come down sharply from 62c in mid-November.
- NZPA
