IMPCO Purchases Assets of Crusader Engines' Industrial Product Line

7 December 1998

IMPCO Completes Purchase of Assets From Crusader Engines' Industrial Product Line

    CERRITOS, Calif.--Dec. 7, 1998--IMPCO Technologies Inc. Monday announced that it has completed the acquisition of the industrial-engine product line of Crusader Engines from Thermo Power Corp., a subsidiary of Thermo Electron Corp. .
    Terms were not disclosed.
    Robert M. Stemmler, chairman, president and chief executive officer, said: "The acquisition further demonstrates our commitment to develop, design, certify and package integrated engine and fuel systems for our OEM customers around the globe. We look forward to continued growth and opportunities as world demand for cleaner-burning fuel systems accelerates."
    In conjunction with the acquisition, IMPCO has established an Industrial Engine Systems Division based in Sterling Heights, Mich., which will manage IMPCO's new engine-systems integration operations. The company anticipates revenues in its fiscal year 2000 of approximately $10 million from this new division.
    IMPCO Technologies sells alternative-fuel products and services worldwide. With headquarters in Cerritos, the company has additional facilities in Irvine, Calif.; Detroit; Seattle; Mount Pleasant, Iowa; Mexico; Australia; the Netherlands; France; Germany; and the United Kingdom.
    IMPCO is a market leader in the original equipment manufacturer marketplace and aftermarket for gaseous fuel-management systems and components that allow internal-combustion engines to operate on clean gaseous 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.

    Certain matters discussed in this news release contain forward- looking information that involves risks and uncertainties that could cause actual results to differ materially from current trends. These include growth of the alternative-fuels market, competition, the company's ability to design and market new fuel-management products, the company's ability to meet original equipment manufacturer (OEM) specifications, and other such risks as cited in the company's 1998 annual report on Form 10-K and other documents filed with the Securities and Exchange Commission.