17.1.2003: Meldung: IMPCO Technologies: Joint Venture With China Natural Gas Company

CERRITOS, Calif., Jan. 16 -- IMPCO Technologies, Inc. the world""s leading source of advanced alternative fuel systems technology for internal combustion engines in the Industrial, Transportation and Power Generation markets, announced today that the company has formed a joint venture with China Natural Gas Corporation (CNGC), a subsidiary of the China National Petroleum Corporation, to market and sell IMPCO gaseous fuel products in Western China. The Chinese potential for gaseous fuel conversions is estimated to be in excess of 500,000 vehicles.

Mr. Robert Stemmler, CEO and Chairman of IMPCO Technologies, Inc., said "IMPCO is very pleased to form a joint venture with a company of the stature in the Chinese alternative fuels market. The Chinese alternative fuel market is growing very rapidly and our sales have more than doubled in two years. The market potential in China is in excess of $1 billion. This exciting market is being driven by surging sales of passenger vehicles, as well as strong government commitment to environmentally friendly technologies (including reforms for the "green" 2008 Olympic Games in Beijing); IMPCO systems also permit utilization of domestic reserves of natural gas, thus supporting China""s desire to drive for fuel independence. Our joint venture partner""s knowledge of the market, their strong distribution and knowledge of industry position us for rapid future growth and production."

IMPCO is the world""s leading source of advanced alternative fuel systems technology and components for internal combustion engines. IMPCO products enable these engines to function using environmentally friendly gaseous fuels such as propane, natural gas and biogas. Headquartered in Cerritos, California, the company has offices in Australia, Europe, India, Japan, Mexico and North America. Visit IMPCO on the web at ( http://www.impco.ws/ )

Certain matters discussed in this press release contain forward-looking information that involves risks and uncertainties that could cause actual results to differ materially from current trends. These include, among other things, the growth of the alternative fuels market, the Company""s ability to design and market viable advanced fuel metering, or electronic control products, and other such risks as cited in the Company""s 2002 annual report on Form 10-K and other documents filed with the Securities and Exchange Commission.

For further information please contact Dale Rasmussen, Investor Relations, +1-206-575-1594, or media, James S. Mitchell, +1-562-860-6666, ext. 116.

Source: IMPCO Technologies
Aktuell, seriös und kostenlos: Der ECOreporter-Newsletter. Seit 1999.
Nach oben scrollen
ECOreporter Journalistenpreise