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BERU Withdraws Offer For IMPCO

22 September 1999

BERU Withdraws Offer For IMPCO

    CERRITOS, Calif.--Sept. 22, 1999--IMPCO Technologies Inc. today announced that BERU Aktiengesellschaft has withdrawn its offer made on Sept. 7, 1999, to purchase IMPCO in a transaction in which the stockholders would receive $14 per share in cash.
    Robert M. Stemmler, IMPCO's chairman, president and chief executive officer, noted that IMPCO's board of directors had previously unanimously determined that the offer was inadequate.
    IMPCO Technologies sells alternative fuel products and services worldwide. With headquarters in Cerritos, the company has additional facilities in Irvine, Calif.; Detroit, Seattle, Australia, Japan, and Mexico. It operates in the Netherlands, France, Germany and the United Kingdom as IMPCO-BERU Technologies B.V.
    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.