More on IMCO --> March 27th post raging bull -->
09:04 IMPCO Continues to Gain Strong Foothold In Growing Indian Market
SYMBOLS: IMCO PRN. I/AUT I/RRL I/ENR I/ENQ I/ENV I/RAI I/OIL N/ENV
With [`IMCO]
IMPCO Continues to Gain Strong Foothold In
Growing Indian Market With $1.1 Million Cummins Order
CERRITOS, Calif., March 27 /PRNewswire/ -- IMPCO Technologies, Inc.
(Nasdaq: IMCO).
-- Over $5 million of orders received this calendar year from OEMs
-- Government regulation demand change from Diesel to Natural Gas
-- IMPCO is working with other major OEMs throughout the region
IMPCO, the World's leading source of advanced alternative fuel systems
technology and components for internal combustion engines, today announced
that the company has received an initial order from Cummins India for
$1.1 million of natural gas fuel systems for buses and trucks. Orders for
additional products and systems are pending. The motor vehicle bus and truck
market for alternative fuels in India is estimated at over $1 billion. IMPCO
recently announced that it was awarded a $4 million contract from Ashok
Leyland, a leading bus manufacturer in India.
With India's population well over 1 billion, and now commanding over 16%
of the world's population, activities and strategies to control air pollution
are becoming vital. India's government is on the forefront of implementing
alternative fuel technologies to aid in this effort.
Mr. Robert Stemmler, Chairman of the Board and CEO of IMPCO, said, "IMPCO
has been heavily involved with the development of the Indian market for over
three years. Our products and systems technology is well suited to support
the government's efforts in improving air quality and reducing dependency on
foreign oil supply. This sale of systems through Cummins India is yet another
environmental advancement for IMPCO and the Indian people. The trend towards
more governments around the world to make strong commitments to alternative
fuels has gained significant momentum in many other countries. Among them,
Thailand, Korea, China and Hong Kong.
"Just this calendar year IMPCO has received over $5 million from OEMs in
India. The government regulations that demand the switch from diesel to
Natural Gas is a key component to this upward growth pattern. The popularity
of IMPCO products in India has led to additional work with other major OEMs:
from small three-wheeled vehicles, forklifts and automobiles to large trucks,"
Mr. Stemmler noted.
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 |
