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Meldungen 30.07.2003

30.7.2003: Meldung: IMPCO Restructures Organization

Robert Stemmler, Chairman and CEO of IMPCO Technologies, Inc. , announced today a restructuring of the organization into two operating divisions to more effectively manage and coordinate company strategies and activities on a worldwide basis.

 

Terry Clapp was appointed Vice President and Chief Operating Officer, Europe, Africa and Middle East Operations and Brad Garner, Vice President and Chief Operating Officer, Americas, Asia/Pacific Operations. An organizational chart is attached for your review.

 

Robert Stemmler, Chairman and CEO stated, "The restructuring of our company into two operating divisions positions IMPCO to more effectively manage and coordinate our profit and growth strategies on a world-wide basis. Our company now has revenues almost evenly distributed between the United States, Europe, Latin America and Asia/Pacific regions. The appointment of Terry Clap and Brad Garner as Chief Operating Officers will provide the leadership and experience required to implement our activities in the rapidly expanding alternative fuels industry. Both individuals have successful management backgrounds within and outside of IMPCO in growing profitable, successful companies."

 

Brad Garner, based in Cerritos, California, joined IMPCO in 1994. He has held various positions within the company including General Manager and Director of the Gaseous Fuel Products Division, General Manager of the Industrial Engines Business Unit. As General Manager of Industrial Engines he grew the business from $3 million to over $17 million in sales during a three- year period. He also held positions in engineering and sales. Prior to joining IMPCO, Mr. Garner was with Superior Propane Inc., an international Canadian energy company with sales of over $1 billion, where he held the position of Senior Sales and Technical Manager. Prior to Superior Propane Inc., Mr. Garner was the owner/operator of Advanced Automotive Technology, one of the largest alternative fuel vehicle conversion centers in Canada.

 

Terry Clap joined IMPCO in 2000 as Managing Director of Strategic Planning and Acquisitions and is based in Europe. At IMPCO he was instrumental in defining and implementing growth strategies which positioned IMPCO as an industry leader in Europe. Prior to IMPCO, Mr. Clapp was with the Mayflower Corporation, a United Kingdom international automotive engineering group with revenues over $1 billion. Mr. Clapp was Managing Director, Acquisitions and International Business Development and during his tenure at Mayflower both revenue and profit doubled as a result of both acquisitions and organic growth. Prior to Mayflower, Mr. Clapp had over 16 years experience as Managing Director of companies where he was responsible for company turn- arounds, restructuring and integration of new acquisitions. Early in his career he worked for Shell and Xerox Corporations in the USA.

 

Regarding IMPCO:

 

IMPCO designs, manufactures, markets and supplies advanced alternative fuel systems and related products. Headquartered in Cerritos, California, IMPCO has offices in Asia, Europe, Australia and South and North America. More information can be found atwww.impco.ws. IMPCO also sells products under the BRC brand names through its 50% stake in that entity.

 

For further information contact Mr. Dale Rasmussen, Investor Relations of IMPCO Technologies, Inc., +1-206-315-8242, or fax, +1-206-315-8301, drasmussen@impcotechnologies.com

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