9.12.2003: Meldung: Impco expects a 35 million US-Dollar increase in sales
Mr. Robert Stemmler, Chairman and CEO said, "We have an order backlog for engine and fuel system products of approximately $10 million scheduled for shipment in the 1st Quarter of 2004 to leading companies in the material handling industry which include Nacco Materials Handling Group Hyster and Yale brands, Hyundai, Mitsubishi Caterpillar and others." He also indicated Impco has obtained additional commitments for $25 million in sales for the last three quarters of the calendar year and that he expects additional emission certified engine business to be added."
Mr. Stemmler said, "this new business is the result of a successful company growth strategy which began in 1999 to become a major supplier of emission certified engines to industrial off-highway OEMs when the EPA regulation became effective." He added, "we built our industrial engine business from $3.5 million in 1999 to over $20 million in 2003, which confirms the desire of off-highway OEMs to out-source their engine requirements rather than commit the capital and engineering expense to develop the necessary technology to emission certify engines. Our recent orders and the commitments we are announcing today underscore the positive trends that we expect as OEMs continue to move toward outsourcing rather than incurring additional capital outlays."
The emission certified engine market for industrial equipment in the U.S. is estimated to be in excess of $180 million annually and $400 million globally. Europe and Japan are expected to implement similar off-highway emission regulations in the 2006 timeframe. Impco, through its emission certified engines and Spectrum fuel systems is well positioned to support large and small industrial OEMs through the process of compliance. Examples of popular engines used in the material handling business include General Motors, Mitsubishi and Mazda.
Impco and BRC design, manufacture, market and supply advanced alternative fuel systems and related products for the transportation, industrial and power generation markets. Headquartered in Cerritos, California and Cherasco, Italy, they have offices in Asia, Europe, Australia and South and North America.
For further information contact Mr. Dale Rasmussen, Investor Relations:
Source: Impco Technologies, Inc.