NAVIGON Becomes Garmin Wuerzburg GmbH
Egon Minar Hands Over Responsibilities to Johannes Angenvoort
Schaffhausen, Switzerland/January 30, 2012— Garmin Ltd. (NASDAQ: GRMN), the global leader in satellite navigation, today announced that in the process of integrating NAVIGON as the companyʼs European-centric research and development center, NAVIGON GmbH has been renamed to Garmin Wuerzburg GmbH. Furthermore, the current NAVIGON managing director, Egon Minar, handed over his responsibilities to Johannes Angenvoort, who has been responsible for the development of navigation devices and solutions at NAVIGON for 14 years.„Johannes Angenvoort is a true R&D expert and makes a great leader for our new research and development center in Wuerzburg. Iʼm convinced that in his new role as managing director, Johannes and his team will help Garmin set new standards in the navigation market,“ said Cliff Pemble, president and COO at Garmin. „Iʼd also like to thank Egon for his outstanding performance during the transition period, and especially for his efforts in merging the cultures of both companies.“Garmin acquired NAVIGON on July 26, 2011, to complement and enhance the companyʼs capabilities as the global leader in the automotive and mobile GPS markets. The new Garmin Wuerzburg office is the realization of the companyʼs vision to establish a technology and product management center that will help develop and deliver products that cater to European consumers.
Since its inception in 1989, Garmin has delivered 91 million GPS enabled devices – far more than any other navigation provider. Garminʼs market breadth in the GPS industry is second to none, having developed innovative products and established a leadership position in each of the markets it serves, including automotive, aviation, marine, fitness, outdoor recreation, tracking, and wireless applications.
About Garmin International Inc.
Garmin International Inc. is a subsidiary of Garmin Ltd. (Nasdaq: GRMN), the global leader in satellite navigation. Since 1989, this group of companies has designed, manufactured, marketed and sold navigation, communication and information devices and applications – most of which are enabled by GPS technology. Garminʼs products serve automotive, mobile, wireless, outdoor recreation, marine, aviation, and OEM applications. Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom at www.garmin.com/pressroom or contact the Media Relations department at 913-397-8200. Garmin and nüvi are registered trademarks of Garmin Ltd. or its subsidiaries.Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on managementʼs current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 25, 2010, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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