Bank Credit Becomes Available to IMPCO and QUANTUM
Bank Credit Becomes Available to IMPCO and QUANTUM
CERRITOS, Calif., Sept. 6 IMPCO Technologies Inc. , today announced that they have received a commitment from Bank of America allowing both IMPCO and QUANTUM access to the Company's current $15 million line of credit. In addition, the Company is working with Bank of America on additional debt financing arrangements to provide capital to fund QUANTUM prior to and after the intended spin off of QUANTUM. The Company is also pursuing additional sources of financing that may include bank borrowings or public/private offerings of equity or debt securities. 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. IMPCO products optimize efficiency and performance while reducing emission to the lowest-levels. IMPCO is a major supplier to original equipment manufacturers and the aftermarket in the bus and truck, industrial and power generation markets, and to the automotive aftermarket. IMPCO supports its global aftermarket through a network of more than 400 Distributors and 13 company-owned regional offices. QUANTUM designs, develops, integrates and manufacturers products for gaseous fuel storage, fuel metering and electronic controls for fuel cells. QUANTUM products enable the fuel cell to operate at optimal efficiency while meeting the performance requirements in its target markets. QUANTUM target markets are portable power generation; stationary power generation, mobile vehicles and refueling infrastructure. In the alternative fuel industry they focus on the automotive OEM market. 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 the timely completion of the QUANTUM spin-off and other such risks as cited in IMPCO Technologies, Inc.'s 2001 annual report on Form 10-K and other documents filed with the Securities and Exchange Commission. For further information, please contact Mr. Dale Rasmussen, Investor Relations, 206-575-1594, or media, Mr. James S. Mitchell, 562-860-6666, ext. 116, both of IMPCO; or Mr. Alan Niedzwiecki for QUANTUM Technologies, Inc., 949-399-4552.
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