DALLAS -- B. Edward Ewing, chairman and CEO of the Ewing Management Group (EMG) has announced the sale of Key Safety Systems, Inc., a designer and supplier of automotive safety systems, including airbags, seatbelts and steering wheels.
The EMG team acquired control of Key Safety Systems in April 2003, after the company (then named Breed Technologies) emerged from bankruptcy. Under EMG stewardship, Key Safety Systems improved its financial performance, its global scope and its reputation among automotive customers worldwide.
Ewing, who served as chairman of the board of Key Safety Systems until its sale, said: "During the past four years, EMG has methodically and diligently implemented a plan to restore Key Safety Systems to the top tier of automotive safety products companies. We believe our role in doing so has been successful for the employees, customers, suppliers and shareholders of this company, providing financial stability and a foundation for continued growth in this dynamic segment of the automotive industry. It has been our honor to work closely in guiding an excellent management team since 2003 and we are pleased to know the company will continue in its good hands."
Under EMG's leadership, Key Safety Systems introduced multiple new safety products, consolidated its manufacturing footprint, established factories in new markets such as Romania and China, and was among the first to develop a world class technical center in China for automotive safety products.