19.6.2003: Meldung: Dynetek Industries Ltd.: Significant Order for Japanese CNG Vehicle Market
Tuesday June 17, 10:48 am ET
CALGARY, June 17 / Dynetek Industries Ltd. ("Dynetek"), a leader in developing, producing and marketing lightweight compressed natural gas (CNG) cylinders and compressed hydrogen cylinders, announced today a significant commercial order. Dynetek will deliver 800 of its lightweight cylinders to its strategic partner, JFE Container Co., Ltd. (formerly Kokan-Drum) in the third quarter of 2003, for distribution to major Japanese carmakers and bus manufacturers for their CNG vehicles. The order will generate revenues of approximately US $1.0 million.
"Natural gas vehicles are becoming more prevalent on Japan"s roadways with the numbers growing every year; and JFE Containers controls approximately 70% of the Japanese composite cylinder market," said Mr. Toru Kondo, President of JFE Container Co., Ltd.
"The natural gas vehicle market is growing worldwide as countries, such as Japan, try to manage pollution problems. Dynetek is in an excellent position, with its strategic relationship with JFE Container to supply Japanese carmakers with the cylinders they require," said Robb Thompson, President and Chief Executive Officer of Dynetek. "Our relationship with JFE has always been strong and for the long term, which was evidenced in 2001 when they acquired an equity interest in Dynetek."
Dr. Tadaaki Taira, Managing Director, Gas System Engineering, said "Dynetek provides the best product for our customers and JFE Container sees further deliveries from Dynetek in 2003 and in future years as the Japanese market continues to grow."
Dynetek Industries Ltd. designs, produces and markets one of the lightest and most advanced fuel storage and refueling systems for compressed natural gas, low emission vehicles and compressed hydrogen, zero-emission fuel cell vehicles. Dynetek is recognized around the world for its solutions-of-choice to the alternate fuel vehicle sector, evidenced by strategic relationships with major manufacturers around the globe. Dynetek is listed on the Toronto Stock Exchange, symbol: DNK.
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Source: Dynetek Industries Ltd