28.6.2005: Meldung: Australia Presents Dynamic Market for New IMPCO Technologies Product
Following a successful pilot project which proved the viability of IMPCO Technologies modern, electronic sequential gaseous fuel injection systems, Western Australia"s Government owned energy utility, Western Power, is investing in the world leading alternative fuels technology to power their fleet. The Minister for Energy, in a November 2004 press release stated, "Soaring petrol and diesel prices meant the new technology made financial as well as environmental sense. Initial tests showed fuel bills could be halved."
Consumer demand, especially among fleet owners, has led nearly every Original Equipment Manufacturer (OEM) selling vehicles in Australia to offer at least one model available with propane and a number of OEMs have already selected Sequent as their next generation of propane systems, due for production release in 2005-2006.
Propane prices in major Australian cities this year have been in the 40 to 45 cents per litre range while gasoline has averaged $1.00 to $1.10. A fuel price differential of 60 cents per litre can generate fuel cost savings of more than $1100.00 per year for a typical V6 sedan travelling 20,000 km per year. Economic benefit, lower emissions, government support and OEM participation have served to renew interest among individual consumers in addition to the traditional fleet market. The Australian Government has committed to keeping LPG excise free until 2011 and upward pressure on world oil prices is expected to continue for the foreseeable future.
About IMPCO Technologies:
IMPCO designs, manufactures, markets and supplies advanced product and systems to enable internal combustion engines to run on clean burning gaseous fuels such as natural gas, propane and biogas. IMPCO is leader in the heavy duty, industrial, power generation and stationary engines sectors. Headquartered in Cerritos, California, IMPCO has offices throughout Asia, Europe, Australia and North America. More information can be found at IMPCO"s web site, http://www.impco.ws.
About BRC Gas Equipment:
BRC produces a complete range of systems for converting vehicles to gaseous fuel to meet market requirements. BRC is leader in the light duty and automobile alternate fuel sectors and established alliances with several major car-makers for OEM projects. Headquartered in Cherasco, Italy, BRC has offices throughout Asia, Europe and South America. More information can be found at BRC"s web site, http://www.brc.it
Except for historical information, the statements, expectations and assumptions contained in the foregoing press release are forward-looking statements. Such forward-looking statements include, but are not limited to, the company"s expectations regarding revenues in future periods and trends in the global economy and environmental regulation that impact our business from time to time. Such statements are subject to a number of risks and uncertainties, and actual results could differ materially from those discussed in any forward-looking statement. Accordingly, you should not construe statements of anticipated performance or planned courses of action as assurances or promises, and note that our statements of expectations are based on information currently available to management. Factors that could cause actual results to differ materially from our forward-looking statements include, among other factors, prevailing market and global economic conditions; changes in environmental regulations that impact the demand for our products; our ability to manage our leverage and address operating covenant restrictions relating to our indebtedness; our ability to negotiate and comply with waivers pertaining to existing loan covenant defaults; the company"s ability to design and market advanced fuel metering, fuel storage and electronic control products; the company"s ability to meet OEM specifications; and the level and success of the company"s development programs with OEMs. Readers also should consider the risk factors set forth from time to time in our SEC reports, including but not limited to those contained in the section entitled "Management"s Discussion & Analysis of Financial Condition and Results of Operation -- Risk Factors" in its Annual Report on Form 10-K for the fiscal year ended December 31, 2004. The company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.
For further information, please contact Dale Rasmussen, Vice President, Investor Relations