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Non-Tech : IMPCO Technologies (IMCO), formerly AirSensors (ARSN)
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To: Jim Oravetz who wrote (74)5/23/1998 12:05:00 PM
From: Edward Larkin  Read Replies (1) of 298
 
This is the second 13-d filing in the month. The news services missed that the Schneebeck estate (etc) sold their holdings to Questar SBS Partners which is run by heavyweights in the investment business. This was disclosed in an 8-K filing by the company earlier this month. I couldn't believe that the Dow didn't spot it. Ed Schneebeck died mid winter and had been the largest holder by far, having been involved in AirSensors birthing in the late 70's to early 80's. Schneebeck previously had been one of the founders of ChemNuclear which was sold to waste management in the 70's. A lot of the gains off the chemnuclear stock went into Airsensors.

Questar is viewed very supportive by IMPCO's management.

I don't think the german company is likely to stop with a 5% ownership stake. Many of the significant shareholders of IMPCO are in their 60's and 70's, just look at the board composition.

The prospects on the GM chinese joint venture are huge. China has awesome natural gas reserves and is a net importer of oil. GM believes that there are prospects to sell 40,000-50,000 annually taxi cabs out of its new beijing factory in the next 2-3 years. This is potentially a major revenue increase for IMPCO as we get closer to the launch. I would look to see the year end contract development revenues from GM when the 4th quarter and year end 10-k is filed for its just completed april year end.
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