Sevcon, Inc., formerly Tech/Ops Sevcon, Inc., is engaged in the electronic controls business. Through wholly owned subsidiaries located in the United States, England, France, South Korea and Japan, the Company designs and sells, under the Sevcon name, microprocessor based controls for zero emission and hybrid electric vehicles. The controls are used to vary the speed and movement of vehicles, to integrate specialized functions and to prolong the shift life of vehicles’ power source. It operates in two segments: electronic controls and capacitors. The electronic controls segment produces microprocessor based control systems for zero emission and hybrid electric vehicles. The capacitor segment produces special metalized film capacitors for sale to electronic equipment manufacturers.
The Company’s customers are manufacturers of on-road, off-road and industrial vehicles including automobiles, motorcycles, buses, fork lift trucks, aerial lifts, mining vehicles, airport ground support vehicles, utility vehicles, sweepers and other battery powered vehicles. Through another subsidiary located in the United Kingdom, the Company manufactures special metalized film capacitors for electronics applications. Approximately 94% of the Company’s revenues, during the fiscal year ended September 30, 2010, were derived from the controls business and 6% from the capacitor business.
The Company competes with Danaher’s Motion division, Sauer Danfoss, Hitachi, the motors division of General Electric, Curtis Instruments Inc., Zapi SpA. and Iskra.