Aero Marine Engine to Relocate to State-of-the-Art Production Facility; Company Headquarters and Design Center Moving from California to New York
TORRANCE, Calif., Oct 29, 2003 (BUSINESS WIRE) -- Aero Marine Engine, Inc., (OTCBB:ARMR.OB) - News - A developmental stage company which has acquired the rights to the Dyna-Cam engine, announced today that it will be relocating the Company's headquarters from Torrance, California to Ronkonkoma, New York. This site is currently the home to Perma-Tune Electronics (OTCBB:PTUN.OB) of which Aero Marine shares commonality of ownership and is controlled by the same principal shareholders.
Aero Marine will occupy approximately 27,500 square feet in Perma-Tune Electronics' manufacturing facility and engineering studios. The Perma-Tune facility enables Aero Marine to have instant access to state-of-the-art color 3-dimensional cad cam systems that will expedite the final configuration of the engine. These powerful engineering tools will allow the combined engineering department to fully simulate the engine and plasma drive ignition systems.
During the transition period, steps have been taken to move a number of assembled engines to the new facility so that there is no delay in the final stages of testing. These decisions will expedite the finalization of design for the Dyna-Cam Engine as well as mating the Perma-Tune Plasma Drive ignition to the engine.
According to Garth Bailey, chief executive officer of Aero Marine Engine,"This move will accelerate the final development of the Dyna-Cam Engine. The facility will be adjacent to our venture partner Perma-Tune Electronics' main production and engineering facilities. As previously announced, Perma-Tune is advancing $1,500,000 of long term credit to Aero Marine and, as part of this credit, Perma-Tune has expanded its production facility, purchased production equipment and will increase its engineering department. It is anticipated that these alterations will be completed in January 2004 at which time the plant will ramp up to produce up to 100 Dyna-Cam engines per week."
Additionally, both companies' executive and marketing teams, as well as scientists and engineers will be present at the Miami International Boat Show to jointly showcase the Dyna-Cam engine. Considering the engine on display is "static", arrangements are also being made where upon request, the operating Dyna-Cam / Perma-Tune engine can be demonstrated within close proximity to the Boat Show.
About Aero Marine Engine, Inc.
The Dyna-Cam engine is an internal combustion engine where the pistons drive a cam to generate power to the main shaft. The main shaft is in a parallel direction to piston movement, without connecting rods or crankshaft. The engine has approximately 40% fewer moving parts than a conventional internal combustion engine, has a greater power to weight ratio, produces high torque at low rpm, operates with less vibration, and is lighter than the competition. Additional information on Aero Marine can be found at www.aeromarineengine.com.
SOURCE: Aero Marine Engine, Inc.
FOCUS Partners LLC
David Zazoff, 212-752-9445
ARMR@focuspartners.com
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