Interesting old news:
New Line of Turbochargers for European Market is Aim
of Joint Venture
Carpinteria, CA -- 06/06/1997 -- Turbodyne Technologies Inc. ("Turbodyne") announced today
that it has enteredinto an agreement in principle with KUHNLE, KOPP & KAUSCH AG ('3K') to
form a jointventure for the design, development, manufacture and marketing of a new line of
turbochargers,incorporating Turbodyne's technology, for 3K's major customers in the European
automotive market.
3K, a unit of the well known Penske automotive organization, isGermany's largest manufacturer of
turbochargers. This agreement is a result of Turbodyne'songoing development program with
Volkswagen AG. On the recommendation of Volkswagen,the company is aligning itself with a
turbocharger manufacturer with the logistical capabilitiesfor on time delivery of product in quantity
with the quality standards acceptable to automakers.Volkswagen is a major purchaser of 3K
turbochargers.
Under the terms of the joint venture Turbodyne will license its technology to the jointventure and will
participate in the development, component supply and assembly of products.3K will have the overall
responsibility for marketing, sales and after sales service of the jointventure products through their
established distributor and dealer network. The license to begranted by Turbodyne to the joint
venture will be for targeted automotive manufacturers inEurope and such other territories as the
parties may mutually agree.
The license to the joint venture will be royalty free with joint venture profits to be shared ona formula
based on cost contribution. The European market for turbochargers is estimated to beat least one
billion US dollars annually.
Turbodyne is an integrated manufacturing company specializing in the design, manufactureand
marketing of high technology performance improvement and anti-pollution devices forautomotive,
marine and industrial applications. Turbodyne's light metal division is an accreditedmanufacturer of
machined permanent mold and sand cast aluminum products for the automotiveindustry.
Turbodyne's integrated manufacturing capabilities also include precision machining,electronic circuit
boards, brushless electric motors, high efficiency centrifugal fan modules andcustom alloy wheels for
the automotive aftermarket. Its offices and plants are located inCarpinteria, Calif.; La Mirada, Calif.;
Encinitas, Calif.; Ensenada,Mexico; North Hampton, England, Monchengladbach, Germany and
Vancouver, BritishColumbia. |
