Submitted by: IMPCO Technologies, Inc.
Posted: Feb 10, 2002 – 11:00 PM EST
Feb. 10 /CSRwire/ - IMPCO Technologies, Inc. (Nasdaq: IMCO) the world's leading source of advanced alternative fuel systems technology for internal combustion engines in the industrial, power generation and transportation markets, announced today that the company has received an order for 40 complete gaseous fuel systems from India's leading three-wheeled vehicle manufacturer, Bajaj Ltd. The systems were designed and assembled at IMPCO's partnership office, Minda-IMPCO Technologies, Ltd. located in India.
Air quality in India is a major concern to the country's 1 billion inhabitants. The Indian government in conjunction with domestic transportation product manufacturers like Bajaj Ltd. is aggressively taking action to reduce exhaust emission pollution from vehicles by working with IMPCO to switch fuel usage from gasoline and diesel to clean-burning, domestically available gaseous fuels such as propane [LPG] and compressed natural gas [CNG].
-- India's market potential exceeds US$ 1 billion
IMPCO products allow internal combustion engines to operate using gaseous fuels.
Ms. Pearl Kamdar, Director of Asia Pacific Operations for IMPCO Technologies, Inc., said "Last year IMPCO established a joint venture with Minda Ltd. in India, which provided IMPCO with the marketing, sales and organizational talents necessary to successfully participate in the rapidly growing India marketplace, and further our dedication to the Asian region. IMPCO is extremely proud to have been selected by Bajaj to supply these kits which are the first of a planned 25,000 per year that Bajaj will produce."
Bajaj, the world's leading manufacturer produces over 100,000 three-wheeled vehicle each year, and plans to offer an estimated 25,000 per year operating on compressed natural gas.
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.
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 2001 annual report on Form 10-K and other documents filed with the Securities and Exchange Commission.
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