Unique Mobility Announces Additional Order For Clutch Gear Assemblies
21 January 2000
Unique Mobility Announces Additional Order For Clutch Gear Assemblies At Its Unique Power Products Unit; New Order For Smaller Units To Complement Existing Clutch Gear Assembly ProductionGOLDEN, Colo., Jan. 21 -- UNIQUE MOBILITY, INC. (Amex: UQM) announced today that it has received a new order from Funk Manufacturing, a wholly-owned subsidiary of Deere & Co., to manufacture a smaller model of the complex welded clutch gear assemblies it currently supplies to Funk for use in off-highway transmissions. Annual revenue from the order is expected to exceed $.6 million. Unique Power Products has been manufacturing and supplying the larger power rated complex welded clutch gear assemblies to Funk since mid 1998. The addition of the smaller power rated complex clutch gear assemblies to Unique Power Products manufacturing mix is expected to result in improved efficiencies and lower costs of production for both products. In commenting on the order, Unique's President and Chief Executive Officer, William G. Rankin, said, "We are extremely pleased to receive this additional order from Funk. These products use the full breadth of our gear manufacturing capability, including carburizing and hardening heat treatment, automated horizontal and vertical welding and internal cylindrical grinding operations. This order will further enhance our position as a high-quality, low-cost supplier of precision mechanical power delivery components." Unique Mobility, Inc. is a leading developer and manufacturer of power dense, high efficiency motors, gear assemblies and electronic assemblies for the automotive, aerospace, telecommunications, medical and industrial markets. The Company's headquarters and engineering and product development center is located in Golden, Colorado. Manufacturing facilities are located in Frederick, Colorado (electric motors and gear assemblies) and St. Charles, Missouri (electronic assemblies and wire harnesses). For more information on the Company, please visit its World Wide Web site at http://www.uqm.com. This press release contains 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. 333-78525) filed by the Company with the SEC, which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including the Company's ability to become profitable and its ability to obtain additional financing, the Company's reliance on major customers and suppliers, potential impacts from Year 2000 issues and the possibility that product liability insurance may become unavailable. These forward-looking statements represent the Company's judgment as of the date of the press release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.