15.3.2005: Meldung: Quantum Subsidiary Awarded Major Contract
With demand for Tecstar products increasing, Tecstar will establish a California distribution center in addition to its Livonia, Michigan, location. Tecstar will utilize Quantum"s existing 5.2 acre Southern California facility located in Irvine. This improves Tecstar"s efficiencies and leverages the synergies between the two companies.
"We are pleased with the expansion of this OEM program and the ability to leverage our expanded operational base to better serve our customers," said Jeff Beitzel, COO of Quantum. "Using Quantum"s Irvine facility as a distribution point will improve our ability to serve the western United States and reduce the costs of distributing our product."
Quantum is a leader in powertrain engineering, system integration and manufacturing of packaged fuel systems and accessories for specialty vehicles and applications including fuel cells, hybrids, alternative fuels, hydrogen refueling, new body styles, mid-cycle vehicle product enhancements and high performance engines and drive trains for OEMs and consumers of aftermarket parts and accessories. Quantum also designs and manufactures hybrid and fuel cell vehicles.
Quantum has product commercialization alliances with General Motors, AM General, Sumitomo and IMPCO. Quantum"s customer base includes General Motors, Toyota, Opel, Hyundai, Suzuki, Ford, DaimlerChrysler, Sunline, Yamaha, AeroVironment, and the U.S. Army.
Forward Looking Statements
Statements in this document regarding future financial and operating results, future growth in customers and development programs, benefits and synergies of the merger with Starcraft, future opportunities for Quantum, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: variations in pricing, material costs, other general costs and expenses; the ability of the parties to successfully integrate Quantum"s, Starcraft"s and Tecstar Automotive Group"s operations and employees; the ability of the Company to meet OEM and end user requirements; the growth of the alternative fuel, fuel cell and specialty vehicle markets; competitive conditions in the industry; business cycles affecting the markets in which the Company conducts business; and economic conditions generally. Additional factors may be found in Quantum"s Form 10-K for the year ended April 30, 2004 and in the other documents filed by the parties with the Securities and Exchange Commission "SEC"), including the Registration Statement on Form S-4 filed by Quantum with the SEC on January 19, 2005.
Forward-looking statements are based on the beliefs, opinions, and expectations of the Company"s management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.
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