IMPCO Technologies to Introduce Alternative Fuel Tank Delivery System
16 March 1999
IMPCO Technologies Plans Introduction of Next Generation Alternative Fuel Tank Delivery System
CERRITOS, Calif.--March 16, 1999--IMPCO Technologies Inc. Tuesday announced that it will shortly introduce the next generation of alternative fuel tank systems, which will incorporate a Tri-Shield all-composite cylinder for natural gas powered vehicles.The company said its Tri-Shield fuel tank system will be certified this summer and incorporated on pick-up and medium-duty trucks and passenger cars for release in the fall of 2000. Initial production capacity, at its Technology Center based in Irvine, Calif., is expected to reach 3,000 tanks in the first year, with full capacity reaching 6,000 in the second year. The company anticipates expanding its tank manufacturing operation to accommodate production of 12,000 units annually for automotive OEM customers in the United States, Europe and Japan.
The new all-composite fuel cylinders are 30 percent lighter than existing Type IV composite tanks and weigh up to 70 percent less than steel tanks, with a 40 percent improvement in burst pressure and overall safety specifications significantly higher than current standards. The fuel tank systems incorporate an integral high-pressure regulator and electric shut-off valve for added safety. By incorporating a high-pressure regulator within the high-pressure fuel tank, all fuel lines in the vehicle will be low-pressure lines.
"The development of this unique and innovative fuel tank delivery system is consistent with IMPCO's long-term strategy to be the premier Tier 1 supplier to automotive original equipment manufacturers," said Syed Hussain, IMPCO's vice president of the technology and automotive OEM division. "With the introduction of this tank, IMPCO will be the first company in the world to have fuel systems, fuel storage, vehicle engineering and testing capabilities all in-house."
IMPCO Technologies sells alternative fuel products and services worldwide. With headquarters in Cerritos, the company has additional facilities in Irvine; Detroit; Sterling Heights, Mich.; Seattle; Mt. 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, including the company's ability to obtain purchase orders for production of alternative fuel vehicles. Other factors 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.