Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells -- Ignore unavailable to you. Want to Upgrade?

To: Hawkeye who wrote (2613)	5/22/1998 11:01:00 AM
From: David E. Smith	Respond to of 5827

Ballard Power Shareholders O.K. 3-for-1 Stock Split VANCOUVER (Dow Jones)--Shareholders in one of the most expensive listings on the Toronto Stock Exchange, Ballard Power Systems Inc. (BLDPF), approved a 3-for-1 stock split Thursday as the company's president assured them Ballard remains the world leader in fuel-cell technology. Firoz Rasul, the company's president and chief executive, told Ballard's annual meeting here that independent reviews, as well as Ballard's own assessment, give the Vancouver technology company a three- to five-year lead on bringing to commercial markets a zero emmission engine that converts hydrogen-based fuel into electricity without combustion. "There's no question the race is on," said Rasul, repeating what he called Ballard's "original mantra." "We will be first to market. When you're first to market, you get to set the rules," he added. Ballard's stock split is effective June 5. The company's stock closed Thursday at $113 1/8 on the Nasdaq Stock Exchange, down 7/8. In answer to a shareholder's question, Mossadiq Umedaly, Ballard's chief financial officer, said the listing won't move beyond the Toronto Stock Exchange, the Nasdaq Stock Exchange and over-the-counter trading in Germany. Overseas listings take "a lot of work," Umedaly added. As reported, Ballard announced Wednesday a joint venture with Ebara Corp. (J.EBA), a Japanese machinery and environmental engineering company, to market and manufacture fuel-cell stationary power plants, following similar agreements with an American and a French company. "This completes for now our strategic alliances we have established to go after the stationary power market across the world," Rasul told the meeting. Ballard expects field trials of its stationary power plants to begin by the end of next year. On the transportation side, Rasul said, a two-year trial with three fuel-cell powered city buses in Chicago has been underway for two months while BC Transit drivers in British Columbia are now being trained for a second three-bus trial. He said that as Ballard moves from research and devlopment to manufacturing, the company will look for help from its partners, German auto manufacturer Daimler-Benz AG (DAI) and Detroit auto manufacturer Ford Motor Co. (F). Daimler-Benz is sending 10 manufacturing experts to Vancouver this year, Rasul said.