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

To: hx4 who wrote (522)	4/16/1999 3:58:00 PM
From: violetta martinez	Read Replies (1) \| Respond to of 6016

LOOKING GREAT Canada's Global Thermo stock soars on Delphi deal Reuters Story - April 16, 1999 14:46 Jump to first matched term CALGARY, April 16 (Reuters) - Calgary-based Global Thermoelectric Inc. said on Friday it will develop a solid oxide fuel cell system for Delphi Automotive Systems Corp. , the world's largest auto parts supplier. Global Thermoelectric, whose stock has quadrupled in value in the past two weeks, didn't disclose the worth of the contract it received from Delphi, which is to be spun off into an independent company by parent General Motors Corp. next month. Shares of Global Thermoelectric soared C$6.26 to C$9.75 in early afternoon trade on Friday. "This commitment is a major endorsement of our fuel cell work," said Jim Perry, president and chief executive of Global. "We have been searching for a strategic partner to facilitate rapid progress on our fuel cells development programs, and we are delighted that a company with the resources and reputation of Delphi has selected us as their partner." Fuel cells operate by chemically combining oxygen and hydrogen to produce electricity. Water is created as a byproduct of the reaction. Global claims the fuel cells are more efficient than internal combustion engines, but declined to comment on what use Delphi Automotive would make of them. ($1=$1.49 Canadian) ((Dann Rogers, Reuters Calgary bureau (403) 531-1622)) Copyright 1999 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Headlines Next Story %IND %BUS %US %AUT %CA %HOT GLE.TO DPH GM V%REUTER P%RTR Click Here For More Information FRONT PAGE NEWS INDEX HEADLINES COLUMNS MARKET DATA GLOBAL MARKETS MARKET MONITOR CHARTING PORTFOLIOS MUTUAL FUNDS WEALTH CLUB STOCKCHAT TRADING CENTER FEEDBACK ADVERTISING INVESTOR'S PRIMER CBS MARKETWATCH RT CBS MARKETWATCH LIVE © 1998 MarketWatch.com, L.L.C. All rights reserved. D cHEERS, vIOLETTA