Supply Relationship with Fiat's Iveco Italy Entered Into by Laforza Automobiles Iveco Italy, a unit of Fiat, to supply Custom Diesel Engine for New Laforza Model
ESCONDIDO, Calif., Apr 25, 2001 (BUSINESS WIRE) -- Laforza Automobiles, Inc. (Pink Sheets: LFZA) announced today that it has entered into a supply relationship with Iveco AIFO, SpA, a manufacturing unit of FIAT, SpA. (NYSE: FIA)
Laforza will produce new models of its luxury sport utility vehicle (SUV) and personal security vehicle (PSV) using Iveco's newest "common rail" technology diesel engines; a 4-cylinder, 3.9 liter unit that produces over 500 pounds of gross torque and over 170 horsepower.
The new Iveco engines for Laforza meet Euro-3 standards. The new engines are the quietest ever produced by Iveco and allow for substantially reduced operating costs, including fuel efficiency and service intervals.
"We are very pleased to be incorporating these new Iveco engines in our new Laforza SUV's," said David Hops, Laforza's chief executive officer. "This is the first SUV application for Iveco, and we hope that this association will result in a new class performance for the SUV category," he added.
The first models featuring the Iveco engine will be produced and sold out of Laforza's Italian facilities.
"We expect to receive very positive feedback from our customers in European markets where diesel engines have been accepted as standard equipment," said Roger Phillips, consulting General Manager of Laforza International, SpA.
About Iveco AIFO, SpA.
Iveco is one of the largest manufacturers of diesel engines in the world, with revenues of over 1.5 billion Euros. They have produced over 15 million engines, of which 4 million remain in service. Annual diesel engine production is over 400,000 units.
For more information about IVECO, visit at www.iveco.com. For more information about FIAT, visit at www.fiat.com.
About Laforza Automobiles, Inc.
Laforza Automobiles, Inc. manufactures and distributes luxury-class Italian sport utility vehicles available in the United States and Europe. New models, including Laforza Magnum armored vehicles, are scheduled for production beginning in Spring/Summer 2001. The bodywork is styled by the renowned automotive stylist Thomas Tjaarda and is manufactured in Cherasco, Italy by Laforza International, SpA.
For more information about Laforza, visit at www.laforza.com.
Laforza is featured at TheStockAdvisor (www.thestockadvisor.com) and additional information can be obtained from www.thestockadvisor.com/040901lfzaspotlight.htm.
CONTACT: PMR and Associates Patrick Rost, 760/942-0015 pmrandco@aol.com
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