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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Moshe who wrote (98)	7/14/1998 6:00:00 PM
From: Ciao	Read Replies (1) \| Respond to of 6016

To all: GLOBAL THERMOELECTRIC ("GLE-Y;GBTOF-L")- Wins Early Approval For Heater Production Global Thermoelectric Inc. announced that the United States Army'sTank Automotive Command has given early approval for Global to begin fallscale production of the new A20 armoured vehicle personnel heater. Underthe Corporation's contract with the Army, sixty days was allowed forapproval of production once physical testing of the heaters was completed.It was previously announced that testing was finished on July 6, 1998 so itwas expected that production approval would have been given some time inSeptember. Instead, approval was given on July 14. The Army is experiencing considerable demand from various armouredunits that want to be supplied with the new A20 heater. The old heatersthey are using have not provided the performance required, and as thewinter season approaches, the Army wants to ensure that upgrades can beaccommodated. Daryl Marling, Manager of the Heaters Division at Global,stated that "It is a vote of confidence in Global and our new heater forthe U.S. Army to give production approval so quickly. They recognize thatGlobal's new heater is a significant improvement over their old units andthey want to start installing upgraded heaters this winter." The new heater is a major step forward for the Army. It ismicroprocessor controlled and can interface with future all-digitalvehicles. Internal fault detection capability provides advanced safety inthe event of problems, whether in the heater or in vehicle systems such asfuel or power supplies. The new units are interchangeable with olderheaters in about 40,000 American-made vehicles worldwide, creating asubstantial market for replacements and upgrades. ............................................................................................................ The recent pullback from $1.50 to $1.10 was a good buying opportunity for those to took advantage of it.