PROFESSOR PETER HOFBAUER JOINS TURBODYNE EUROPE
11 May 1998 10:45
easdaq.be
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Company Announcement : Professor Peter Hofbauer Joins Turbodyne Europe
Woodland Hills, Ca. - May 11, 1998 -- Turbodyne Technologies Inc. (NASDAQ:TRBDF, EASDAQ:TRBD) announced today that Professor Dr. Peter Hofbauer has joined the company, effective immediately. He will act as General Manager/Technology for Turbodyne Europe, and will join Mr. Edward Halimi and Mr. Peter Kitzinski as a Member of the Board of Turbodyne Europe, part of Turbodyne's international structure. Professor Hofbauer presently serves as the President of the Propulsion Research Institute.
"We see Peter's joining us as an absolute endorsement of Turbodyne's technology and global strategy," said Edward Halimi, Turbodyne's Founder and Chairman. "It is an extreme honor and great pleasure to have one of the foremost engine designers of our time working with us. His presence will have a substantial impact on accelerated introduction of our products in the European markets, as well as on our sales."
"I am very happy to assist with some additional ideas in a technology that I consider to be the missing link in building engines that generations of engineers were searching for," said Professor Hofbauer of his appointment.
"The air management and enhancement technology provided by Turbodyne's products can be applied in gasoline and diesel powered engines, turbocharged or non-turbocharged," continued Professor Hofbauer. "Complementing other technological advances made in motor engineering, Turbodyne's technology will very quickly become the prerequisite and standard for new engines to provide reduced pollution, better fuel economy and increased performance."
Professor Hofbauer's outstanding career started at the Technical University in Vienna, Austria, where he was a student of Professor Eberan-Eberhorst, legendary teacher of internal combustion engines for a generation of high profile engineers. After graduating in 1966, Prof. Hofbauer joined Volkswagen AG in Wolfsburg, Germany, where for the next 20 years he developed all VW and Audi diesel engines, as Director of Engine and Transmission Development with a staff of 1,040 employees. Later, Prof. Hofbauer served as a Member of the Management Board of KHD (Kl”ckner-Humboldt-Deutz) AG in Cologne, Germany, one of Germany's most prominent heavy-duty engine manufacturers.
Prof. Hofbauer
May 11, 1998
By joining Turbodyne, Professor Hofbauer complements the European management team of Turbodyne, in which Peter Kitzinski has served as General Manager/Finance since early 1997. Kitzinski graduated with honors in economics and business administration from the Universities in Mnster, Germany and Wrzburg, Germany.
Turbodyne Europe has had several on-going programs since 1995 with major European automotive, turbocharger and engine manufacturers.
Dr. William Woollenweber, Executive Vice President, and Mr. David Willett, Vice President of Electronic Power Systems, will continue as members of Turbodyne's management team in Europe. Mr. Alain Lombard will continue as Director of Turbodyne France, and Mr. Philipp Waltert as Director of the Turbopac 1500~ program for Europe.
TURBODYNE TECHNOLOGIES INC.
"Edward M. Halimi"
Edward M. Halimi
Chairman
Turbodyne's world wide web address is: turbodyne.com
Contact: Meredith Lefforge, Turbodyne Media Relations, 800-350- 2031
This news release contains forward-looking statements concerning the future performance of Turbodyne Technologies and its subsidiaries, which are subject to a number of factors including general economic conditions, conditions within the global automotive market, and political changes both domestically and overseas.
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