Turbodyne Reports Milestone Accord With Detroit Diesel
18 December 1997
Turbodyne Reports Milestone Accord With Detroit DieselWOODLAND HILLS, CA., Dec. 18 /CNW-PRN/ - Turbodyne Technologies Inc. Trading Symbols: TRBDF (NASDAQ) TRBD (EASDAQ) Turbodyne Technologies Inc. (``Turbodyne'') today announced it has finalized terms of a sales and marketing agreement with Detroit Diesel Inc. . While specific terms of the agreement weren't disclosed, sources acknowledged that this relationship positions both companies to benefit from their combined work for certification under the Environmental Protection Agency's (EPA) Urban Bus Program mandate. Under the agreement, Detroit Diesel will exclusively market Turbodyne's Turbopac(TM), a proprietary anti-pollution, fuel economy and engine performance technology, as part of Detroit Diesel's Rebuild retrofit kit. This revolutionary advancement is uniquely suited for urban buses powered on diesel engines sold prior to 1989. Detroit Diesel's engines are the predominant engine used in the estimated 40,000 urban buses that fall under this mandate in the United States. ``This agreement represents a giant step forward in commercializing this revolutionary technology,'' said Mr. Walter Ware, Turbodyne's Chief Operating Officer. ``Combined with an industry giant such as Detroit Diesel, we have been able to meet the EPA's new standard of 0.1 gram particulate emission level for certification under the agency's program. We expect the retrofit kit will be fully certified by the EPA by mid-January 1998.'' Mr. Ware continued, ``This certification covers an estimated 8,000 - 10,000 buses in a specified engine class. These buses will be required to come in to compliance during scheduled engine overhauls over the next three years. Our goal is to have the anti-pollution kit installed on about 2,500 buses by the end of 1998.'' Turbodyne is an integrated manufacturing company specializing in the design, manufacture, and marketing of high technology performance-enhancing and pollution-reduction products for automotive, marine, construction, industrial, electric power generation and military engines. Its light metals subsidiary is an integrated manufacturer of machined aluminum castings and a leading supplier of engineered permanent mold and sand-cast aluminum products for the automotive industry. Offices and plants are located in Carpinteria, La Mirada, Encinitas, Woodland Hills, CA; Ensenada, Mexico; Northants, England; Vancouver, BC; and Frankfurt, Germany. Turbodyne's World Wide Web address is http://www.turbodyne.com Turbodyne Technologies Inc. Walter F. Ware Chief Operating Officer This news release contains forward-looking statements concerning the future performance of Turbodyne Technologies and its subsidiaries, which are subject to a number of factors including, but not limited to the timely certification by the EPA of the Rebuild retrofit kit, general economic conditions, conditions within the global automotive market, and political changes both domestically and overseas. SOURCE: Turbodyne Technologies Inc.