12.6.2003: Meldung: Impco Technologies: Agreement With State of Mexico
Wednesday June 11, 9:01 am ET
CERRITOS, Calif., June 11 / -- IMPCO Technologies, Inc. (Nasdaq: IMCO - News) the company announced today the State Of Mexico through the Ministry of Transportation signed an historic agreement with IMPCO Technologies to work in collaboration in the development and implementation of an alternative fuel program to convert public transportation vehicles in Mexico to alternative fuels.
The timing for implementation of the program is by the end of 2003 with over 120,000 taxis in the State of Mexico targeted for conversion through the life of the program. The emission reduction potential for the program is significant as is the economic benefit since the price for a liter of propane is 50% less than that of liquid fuels like gasoline.
Mr. Fernando Maldonado, Minister of Transportation of the State of Mexico said: "This is the first time in the history of the State of Mexico that we have signed such an agreement with a private firm. By working with IMPCO we can leverage their technology and global expertise to put an alternate fuels program together to lower emissions and improve the economics for the vehicle owners." He added, "The governor has approved very important incentives that include the release of all state taxes to public transportation vehicles that run on an alternative fuel."
Additionally, he said, "The goal of this administration is to increase the quality of the service and quality of life for the people of the State of Mexico and this program is key to achieving that goal."
Mr. Brad Garner, General Manager of IMPCO Technologies said: "We are very pleased and honored that the State of Mexico has selected us as their partner in this important program. With over 7.5 million people using public transportation every day and over 120,000 taxis using gasoline, The State of Mexico is among the worst areas in the world for pollution caused by vehicles." He added: "There is an immediate opportunity to improve the pollution problem through the conversion to alternative fuels. The proactive leadership being demonstrated by the Governor and the Minister of Transport will ensure a successful program."
IMPCO designs, manufacturers, markets and applies advanced alternative fuel products and systems. Headquartered in Cerritos, California, IMPCO has offices throughout Asia, Europe, South and North America. www.impco.ws . IMPCO also operates under the BRC brand names through a 50% ownership agreement. Certain matters discussed in this press release could contain forward- looking information that involves risks and uncertainties that could cause actual results to differ materially from current trends. These and other such risks as cited in the Company"s 2001 annual report on form 10K and other documents filed with the Securities and Exchange Commission.