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DIGITAL DIEM
Page 56
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We'd heard of Stoneridge without knowing much about the company. To put that right, Andy Salter visited the firm's Dundee HQ.
irhe digital tachograph legislation introduced in April is proving a bitter pill for the industry to swallow. Only 10% of the driver population has taken up driver cards; many operators have deferred a decision on digitachs until the first quarter of 2007 at the earliest.
This reluctance to invest in digital technology does nothing for the confidence of the market, and little for the balance sheet of the likes of Stoneridge -one of only three companies supplying digitachs to the market.
For the uninitiated, Stoneridge is a global giant in the automotive supply sector. It has a turnover of $750m (£400m) and supplies truck, van and car manufacturers as well as the aftermarket. In Europe. which accounts for $150m (80m) of that turnover, the company's activities are predominantly focused on CVs.
For example. Stoneridge is the sole supplier of digitachs to Seania; it also supplies digitachs for 48% of DaimlerChrysler's production and 33% of MAN's new vehicles.
Stoneridge's site in Dundee is the company's 1-10 for aftermarket activity in Europe and that location will ring a hell with readers who have longer memories. Stoneridge took over the old] VI Europe (aka Veeder-Root ) business in 2001 so it has a long pedigree in the tachograph business. The aftermarket activity continues to be focused around analogue tachograph business,with jus 4% of its revenue currently coming In replacement digitachs.
Data analysis 11 lc supply of original equipment is,of course,just an entry into the game;more important is the management and analysis of the data on the cards. Like its competitors Stoneridge has developed a suite of tools for this purpose:the Stoneridge version is called Optac. The basic Optac package is a simple integrated driver card and tachograph reade which is universal across all makes of tachos and trucks.lbe next product up in the range is Optac+,which offers full analysis of the cligitach data.Optac2 is the top-of-the-range option, offering enhanced fleet management across mixed (digital and analogue) fleets.
In a demonstration the Optac system seen intuitive: it gives users all the data and analys needed to ensure a fleet complies with the tachograph regs.A logical development of ti service will be to add a web offering giving analysis of tachograph hours data and other internet-based servicesthis in the pipeline.
Stoneridge has just launched an aftermari website www.optac.info which enables users to search for service facilities and ordei parts. It also offers product information.
Stoneridge has ambitious revenue targets which involve doubling its turnover between 2005 and 2010. and there is significant investment going on to realise this-office spa in Dundee is also currently being doubled.
With legislation slowly pushing the market in the direction of digitachs and their analysis, Stoneridge 's business model appears strong. Now it just has to convince operators that the swift adoption of digitachs is in their interests.