IMPCO Announces Exercise by Three Senior Executives of Options To Acquire 284,684 IMPCO Shares
CERRITOS, Calif., March 21 /PRNewswire/ -- IMPCO Technologies, Inc., (Nasdaq: IMCO - news) a
leading source of alternative propulsion and fuel storage systems announced today its Chairman and CEO,
Robert M. Stemmler, its Senior Vice President, Dale Rasmussen, and its Senior Vice President of
Technology and Automotive OEM Operations, Syed Hussain, each exercised options to purchase 284,684
shares in the aggregate of IMPCO common stock, each at $13.75 per share. These options had been
granted to them in 1998 by Questor Partners Funds and its affiliate Questor Side-By-Side Partners, L.P. To
finance the exercise of these options, IMPCO extended loans to the officers for the full purchase price of
$3.9 million. The loans are secured by the stock acquired and other collateral, bear interest at 9% per
annum and mature in one year.
IMPCO is the World's leading source of advanced alternative fuel systems technology and components for
internal combustion engines. IMPCO products enable these engines to function using environmentally
friendly gaseous fuels such as propane, natural gas and biogas. IMPCO products optimize efficiency and
performance while reducing emission to the lowest-levels. IMPCO is a major supplier to original equipment
manufacturers in the automotive, materials handling industrial and power generation industries. IMPCO
supports its global aftermarket through a network of more than 400 Distributors and Service Parts
Organizations. Through IMPCO's wholly owned subsidiary, Quantum Technologies, Inc. the company
participates in the emerging fuel cell market by supplying enablement technologies and products in fuel
storage, fuel metering and delivery, electronic controls and system integration. Information on Quantum may
be found at our URL: www.qtww.com
World headquarters are located in Cerritos, California. IMPCO has key offices and facilities worldwide
including: North America, Central America, South America and the Pacific Rim. It operates in the
Netherlands, France, Germany and the United Kingdom as IMPCO-BERU Technologies, B.V. IMPCO
can be found at www.impco.ws. |
