Aprilia World Service Signs Orbital License Agreement
22 September 1999
Aprilia World Service Signs Orbital License AgreementPERTH, Western Australia, Sept. 22 -- Aprilia World Service B.V. (Swiss Branch), a company belonging to the Aprilia Group, Europe's second largest and fastest growing motorcycle and scooter manufacturer, has signed a license agreement with Orbital Engine Corporation . This grants them rights to commercially introduce motorcycles and scooters incorporating Orbital's direct fuel injection technology and is a precursor to the imminent volume production of the fuel system. The two companies have also signed a marketing agreement for the ongoing promotion of the low emissions technology on the Aprilia branded product range. The technology will ultimately allow Aprilia branded products to meet stringent European stage 2 emissions standards mandated for 2002. These powerful, highly efficient clean two stroke engines are producing emissions, fuel economy and performance superior to the four stroke engines previously touted as the solution to the emissions challenges of the motorcycle industry. The license and marketing agreements follow Aprilia's December 1998 announcement that they intended to have motorcycles and scooters using Orbital direct fuel injection technology in production within one year. Orbital and Aprilia World Service have jointly conducted an intense and highly successful program of technical development since that time, which has ultimately led to the technology licensed under this agreement. Aprilia World Service has also actively promoted the use of Orbital's technology under the "DiTech" brand name, including the use of Orbital's name and logo on the Aprilia 500cc grand prix racing bike. Orbital CEO, Mr. Kim Schlunke said "The Aprilia Group has a reputation as a technical leader in the motorcycle industry and the performance and fuel economy of the jointly developed product has set a completely new level of technical capability. We expect the release of Aprilia branded product will create significant momentum in the European market." The license agreement also addresses the allocation between the two parties of carbon credits generated by the fuel economy improvements achieved on these next generation scooters and motorcycles. Orbital is a leading international developer of engine technologies using direct in-cylinder fuel injection and lean-burn systems for enhanced fuel economy and lower emissions. The company serves the worldwide automotive, marine, recreational and motorcycle markets. Headquartered in Perth, Western Australia, Orbital stock is traded on the Australian Stock Exchange (OEC), the New York Stock Exchange (OE) as well as the Berlin (ORE) and Frankfurt (OREA) Exchanges.