Today's PR announcement from the conference nicely sums up what UQM is about and what their plans are. I liked it before Iacocca was a player and now that he and Stemple are involved I think this could be a GREAT stock in a year or two.
Any thoughts?
Unique Mobility, Inc. Presents at Cruttenden Roth 10th Annual Growth Stock Conference
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Growth Stock Conference
LAGUNA NIGUEL, Calif., March 3 /PRNewswire/ -- Unique Mobility (Amex: UQM)is a Golden, Colorado, developer and manufacturer of high power, high efficiency brushless permanent magnet motor systems for electric and hybrid vehicle propulsion. With a $32 million technology portfolio, Unique will launch large-scale manufacturing in fiscal 1999 (which begins April 1, 1998).
The Company owns a modern 75,000 sq. ft. engineering and manufacturing facility in Taiwan with its joint venture partner, Kwang Yang Motor Co. Ltd. (KYMCO), a leading international scooter manufacturer. The joint venture (Taiwan UQM Electric Co., Ltd.) has launched production of electrical components for KYMCO and will launch production of power systems for electric scooters early in 1999. Unique's domestic manufacturing capacity was recently
expanded by the acquisition of Colorado-based, Aerocom Industries, Inc., a profitable, growing manufacturer of precision gears. This acquisition provides an additional 25,000 sq. ft. of manufacturing space for volume production of both motors and gears.
Unique has also been named as the power system supplier to EV Global Motors Company (EVG), founded and chaired by Lee Iacocca, to manufacture and market a range light electric transportation products. EVG is Unique's largest shareholder and Mr. Iacocca serves as a director of Unique.
Unique power systems are expected to serve many other niche markets, including health devices, recreational and industrial vehicles, mining equipment, oil & gas equipment and aerospace components. Unique power systems have also been designed for emerging automotive mass markets, which include electric and hybrid vehicles, fuel cell air supply systems and electric power steering systems.
SOURCE Unique Mobility, Inc.
-0- 03/03/98
/CONTACT: John Gould of Unique Mobility, Inc., 303-278-2002/
/Web site: uqm.com
(UQM) |
