IMPCO Forms New Heavy Duty Engine Division; Positions Alternative Fuels Company to Better Serve Growing Market
30 September 1997
IMPCO Forms New Heavy Duty Engine Division; Positions Alternative Fuels Company to Better Serve Growing Market
CERRITOS, Calif., Sept. 30 -- IMPCO Technologies, Inc.
(Nasdaq: IMCO, IMCOW) today announced the formation of a new Heavy Duty Engine
Division devoted exclusively to the development of alternative fuel systems
for heavy duty mobile gas engines used in trucks and buses, as well as large
stationary gas engines used in industrial applications.
The new division, based in Seattle, WA, combines into one business unit
IMPCO's heavy duty mobile applications group and the company's large
stationary engine business group. This consolidation enables the company to
focus on the growing heavy duty engine market.
Dr. Lorne Gettel has been appointed director of the new division. Dr.
Gettel has more than 15 years of experience in the heavy duty alternative fuel
engine field. Dwight Whiting, an engineer with many years of experience in
the large engine market, was hired by IMPCO as Product Manager, Large
Stationary Engines, and will work closely with existing and future customers
to service their needs.
"The establishment of this new division represents an opportunity for
IMPCO to significantly expand its alternative fuel systems in the heavy duty
engine market," said Robert M. Stemmler, IMPCO's president and chief executive
officer. "We are also confident that it will enable us to better serve our
heavy duty engine customers and to provide better value to them.
"IMPCO is committed to the future of the alternative fuels industry, and
we believe that this consolidation of our heavy duty engine activities into
one business unit positions our company for solid growth in the years ahead,"
Stemmler added.
Industry sources estimate that the market for alternative fuel systems for
heavy duty gas engines will grow at a rapid pace over the next several years,
reaching an estimated $50 million a year in sales over the next 10 years.
This growth, according to industry experts, will be supported by the increased
worldwide government mandates for clean air, such as the Clean Air Act of
1990, the Energy Policy Act of 1992 and the EURO 3 European emission
standards.
IMPCO has been developing advanced electronic heavy duty fuel systems for
a number of heavy duty OEMs for trucks and buses utilizing compressed natural
gas (CNG) and liquefied natural gas (LNG). Initial production of those
systems is scheduled to begin in late 1998.
The company will continue to offer large stationary engine customers its
existing alternative fuel products which have been refined over the last few
years to offer improved performance and durability. Additionally, IMPCO will
continue to develop new technology for the large stationary engine market to
meet customers' needs for cleaner burning engines and improved fuel economy.
IMPCO Technologies, Inc. sells alternative fuel products and services
worldwide. Headquartered in Cerritos, CA, the company has additional
facilities in Irvine, CA, Detroit, MI, Seattle, WA, Mt. Pleasant, IA,
Australia, the Netherlands, France, Germany and the United Kingdom. IMPCO has
been a market leader in OEM and aftermarket gaseous fuel management systems
and components that allow internal combustion engines to operate on clean
fuels such as propane and natural gas. IMPCO provides conversion systems for
motor vehicles, forklifts, other material handling equipment, and small
portable to large stationary engines.
SOURCE IMPCO Technologies, Inc.