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Non-Tech : IMPCO Technologies (IMCO), formerly AirSensors (ARSN)

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To: Jim Oravetz who wrote (287)7/11/2002 12:48:05 PM
From: Jim Oravetz  Read Replies (1) of 298
 
Impco Technologies Inc. and China Natural Gas Corp., a unit of China National Petroleum Corp., agreed to form a joint venture for marketing and sales of Impco products in the Sichuan and Chongqing regions of China.

Financial terms were not disclosed.

In a press release Tuesday, Impco said the venture will focus on the aftermarket conversion and automotive original equipment manufacturer businesses.

As part of the venture, the companies plan to build a manufacturing facility.

The venture aims to increase the number of natural gas vehicles through converting gasoline vehicles, and to work with domestic automotive OEMs to develop sales of new vehicles.

Shares of Impco recently traded at $10.50, down 34 cents, or 3.1%, on Nasdaq volume of 120,100 shares. Average daily volume is 197,441 shares.

Company Web site: impco.ws
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