Turbodyne's Board Appoints Dr. Peter Hofbauer as CEO
Woodland Hills, CA - July 2, 1999 - The Board of Directors
of Turbodyne Technologies Inc. (EASDAQ: TRBD) announced
today that it has appointed Professor Dr. Dipl.-Ing. Peter
Hofbauer as Chief Executive Officer of the Company. This
appointment complements and acknowledges Dr. Hofbauer's
recent activities for Turbodyne as General Director,
Technologies of Turbodyne Europe and as President of the
Propulsion Research Institute. Dr. Hofbauer's appointment
arose as a strategic consequence of his contribution to and
creation of further perspectives for the Turbodyne
Technology and of his standing and reputation with original
equipment manufacturers and the automotive suppliers on a
global scale.
Prior to joining Turbodyne, Dr. Hofbauer had dedicated
twenty years of his professional career to Volkswagen AG,
Wolfsburg, Germany, where for ten years he was Head of
Engines and Transmissions Development. In this position he
initiated, developed and put into mass production VW and
Audi diesel engines, and predeveloped the new generation of
diesel engines with direct injection that has become a
mainstay in passenger car engines. His tenure at Volkswagen
was followed by appointments as a Member of the Board of
Pierburg GmbH, Neuss, Germany, KHD AG (now: Deutz Motors),
Cologne, Germany and Viessmann Werke GmbH&Co, Allendorf,
Germany. For his work at Viessmann he was awarded the German
Federal Innovation Award and the German and the European
Industry Environment Award for a flameless, emissionfree
burner. Dr. Hofbauer joined Turbodyne in January of 1998.
Dr. Hofbauer holds a Master of Science in Mechanical
Engineering from the Technical University in Vienna, Austria
and a Doctorate in Mechanical Engineering from the RWTH
Aachen, Germany. The Minister for Science and Art of Lower
Saxonia, Germany, recognized his teaching achievements by
appointing Dr. Peter Hofbauer as Honorary Professor in 1985.
Mr. Walter F. Ware, formerly CEO of Turbodyne, has resigned
for personal reasons, but will continue to contribute his
expertise to Turbodyne as a Member of the Board of
Directors.
Turbodyne Systems, the Engine and Pollution Technology
Division of Turbodyne, designs, develops, manufactures and
markets patented pollution-reduction, fuel economy and
performance enhancing products for internal combustion
engines in the automotive, transportation, construction,
marine, agriculture, mining, military and power generation
industries. Turbodyne's Light Metals Division is a
manufacturer of machined aluminum castings and a leading
supplier to the automotive industry.
Turbodyne Technologies Inc. maintains offices and/or plants
located in Carpinteria, La Mirada, Encinitas and Woodland
Hills, California; New York, New York; Ensenada and Mexico
City, Mexico; Paris France; and Frankfurt, Germany.
Turbodyne's World Wide Web address is: www.turbodyne.com.
Contacts:
Corporate Communications: Peter Weichselbraun, (800) 566-
1130
Investor Relations: Mark White, (800) 350-2031
European Operations: Peter Kitzinski, +49-69-975-44-501
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