Unique Mobility Completes Construction
22 June 1998
Unique Mobility Completes Construction of New 25,000 Sq. Ft. Manufacturing Facility for its Aerocom Industries and Unique Power Products Subsidiaries
GOLDEN, Colo., June 22 -- Unique Mobility, Inc. (Amex: UQM),
a leading worldwide developer and manufacturer of energy-efficient electric
and hybrid-electric motor systems, today announced that it has completed the
construction of a new 25,000 sq. ft. manufacturing facility in Frederick,
Colorado. The new facility has been designed to accommodate both the gear
manufacturing operations of Aerocom Industries, Inc. (Aerocom) and the motor
manufacturing operations of Unique Power Products, Inc. (UPP). Aerocom has
begun production in the Frederick facility and UPP expects to relocate to the
new facility in the next several weeks.
Aerocom, acquired by Unique Mobility in January 1998, is a Tier 1 and Tier
2 supplier of automotive, industrial and aerospace gear sets. The facility
has been designed and equipped to maximize the efficiency of manufacturing
operations and to support the anticipated business expansion of Aerocom and
the volume production launch of permanent magnet motors by UPP. The facility
is located on a two acre parcel of land in Frederick, Colorado, which is
midway between Denver and Fort Collins. Aerocom also holds an option to
acquire an adjacent two acre parcel of land to accommodate future expansion.
Coincident with the relocation, Aerocom has purchased additional
manufacturing equipment. This equipment will expand Aerocom's capabilities to
include heat treatment, precision welding and precision gear cutting
operations.
Unique Mobility also announced that it appointed Robert F. Angliss as Vice
President and General Manager of Aerocom, and Fred Davis as Manufacturing
Manager of UPP. Mr. Angliss has over thirty years experience in manufacturing
and operations management, most recently as President of Asarter Fiber
Networks, a manufacturer of telecommunications equipment. Mr. Davis has been
Unique Mobility's Manufacturing Manager in charge of prototype product
production for the last four years. Mr. Davis has over twenty years of
manufacturing experience, including serving as Manufacturing Manager for the
Anatech Division of Intergraph Corporation, a manufacturer of document
scanners, immediately prior to joining Unique Mobility.
Unique Mobility, Inc. is an innovative developer and manufacturer of
power-dense, high-efficiency motor systems for propulsion applications. Its
technology is value-added to a wide range of industrial, agricultural,
healthcare, mining, aerospace and oil and gas equipment and the emerging light
electric vehicle and hybrid electric bus, truck and car markets.
This release may contain forward-looking statements that involve risks and
uncertainties. These statements may differ materially from actual future
events or results. Readers are referred to the Risk Factors section of the
Registration Statement on Form S-3 (File No. 333-52861) filed by Unique with
the SEC, which identifies important risk factors that could cause actual
results to differ from those contained in the forward-looking statements,
including Unique's history of operating losses, its ability to obtain
additional financing, competition, changes in government regulations mandating
low and zero emission vehicles, Unique's ability to protect its proprietary
information, and Unique's limited experience in manufacturing processes and
procedures and marketing and distribution.