ERRITOS, Calif., Feb. 6 /PRNewswire-FirstCall/ -- IMPCO Technologies, Inc. (Nasdaq: IMCO,
news, msgs) the world's leading source of advanced alternative fuel systems technology for
internal combustion engines in the Industrial, Transportation and Power Generation markets,
announced today that the company has signed an agreement with Sichuan Chuanteng CNG
Equipment Co. Ltd. to market and sell IMPCO gaseous fuel products in the Sichuan region of
China. The Chinese potential for gaseous fuel conversions is estimated to be in excess of over
500,000 vehicles with the market valued at US$900 million.
-- China Vehicle Market Potential Exceeds $900 Million - 500,000 Vehicles
The MOU signed is the first step towards a full joint venture providing IMPCO a strong base of
operations in Northern China. IMPCO products allow internal combustion engines to operate using
gaseous fuels.
Since obtaining the rights to the 2008 Summer Olympics, China's government has placed
tremendous efforts on reducing air pollution in Beijing and surrounding cities. Many of China's 1.2
billion citizens will benefit significantly from being able to purchase new vehicles, which operate
on clean burning fuels such as propane or compressed natural gas as well as those who wish to
convert their existing vehicle from gasoline to gaseous fuels.
Mr. Robert Stemmler, CEO and Chairman of IMPCO Technologies, Inc., said, "IMPCO is
dedicated to helping China improve their air quality and in establishing this relationship, we will
support the conversion of polluting vehicles to clean-burning fuels with leading technology
commercial products. Many countries like China have vast domestic resources of natural gas and
propane that go toward significantly reducing imports of crude oil, reducing their unfavorable
balance of payments, and positively impacting the environment." |
