Fuel Systems Solutions, Inc. (ticker: FSYS, exchange: NASDAQ Global Market (.O))
News Release -
Fuel Systems Solutions Enhances U.S. Automotive Fleet Strategy for LPG and CNG Vehicles
Enters into Distribution Agreement With CleanFUEL USA
Receives EPA Certifications for Common 2009 Fleet Vehicles for U.S.
SANTA ANA, Calif., June 1, 2009 (GLOBE NEWSWIRE) -- Fuel Systems Solutions, Inc.'s (Nasdaq:FSYS) subsidiary IMPCO Technologies, Inc. signed a non-exclusive distribution agreement with privately-held, CleanFUEL USA, to market and sell Fuel Systems' kits through CleanFUEL's authorized installation network in the U.S. market. Under the agreement, CleanFUEL will distribute Fuel System's EPA certified bi-fuel kits for conversion of light duty General Motors and Ford vehicles to run on liquid propane gas (LPG). CleanFUEL will install and provide vehicle service and support through its partners.
Matthew Beale, Fuel Systems' President and CFO, said, "Signing this agreement with CleanFUEL USA, an established player in the LPG alternative fuel vehicle market, is another step forward in our U.S. automotive strategy for fleets. We are excited about expanding our distribution channel and marketing our LPG systems through the CleanFUEL installer network."
Fuel Systems Solutions earned six Environmental Protection Agency (EPA) Certifications for several 2009 Chevrolet and GMC branded vehicles including passenger cars, light duty class pickups, cargo vans and SUVs commonly used for fleet vehicles. These additions expand the company's EPA certification portfolio.
Fuel System Solutions' bi-fuel system is a certified engine conversion for the following vehicles: the 2007 5.4L Ford F150; the 2008 and 2009 3.5L and 3.9L Chevrolet Impala; 4.8-liter Chevrolet G Van and GMC Savana; the 6.0-liter Chevrolet Silverado, Express, and G Van; 6.0-liter GMC Sierra and Savana; the 2009 5.3L Chevrolet Avalanche, Silverado, Suburban and Tahoe; and 5.3L GMC Yukon and Sierra.
About CleanFUEL USA
Founded in 1993, CleanFUEL USA is headquartered in Georgetown, Texas with administrative, engineering and sales offices in Michigan, California and Louisiana. CleanFUEL USA has international subsidiaries, including CleanFUEL India located in New Delhi and CleanFUEL Argentina in Buenos Aires. CleanFUEL USA is recognized as the leading manufacturer of certified and approved alternative fuel dispensing equipment for both propane and E85. The company distributes OEM and aftermarket propane engine fuel systems, fleet management network services, and associated technical support, training and fuel contract services.
About Fuel Systems Solutions
Fuel Systems Solutions (Nasdaq:FSYS) is a leading designer, manufacturer and supplier of proven, cost-effective alternative fuel components and systems for use in transportation and industrial applications. Fuel Systems' components and systems control the pressure and flow of gaseous alternative fuels, such as propane and natural gas, used in internal combustion engines. These components and systems feature the company's advanced fuel system technologies, which improve efficiency, enhance power output and reduce emissions by electronically sensing and regulating the proper proportion of fuel and air required by the internal combustion engine. In addition to the components and systems, the company provides engineering and systems integration services to address unique customer requirements for performance, durability and configuration. The company is composed of two operating subsidiaries: IMPCO Technologies and BRC. IMPCO Technologies is a leader in the heavy duty, industrial, power generation and stationary engines sectors. BRC is a leader in the light duty and automobile alternative fuel sectors and has established alliances with several major automobile manufacturers for OEM projects. Additional information is available at www.fuelsystemssolutions.com.
This press release contains certain forward-looking statements that involve risks and uncertainties. Such statements represent only our opinions and predictions. Actual results may differ materially. Factors that may cause the Company's results to differ include the risk factors set forth in the Company's Annual Report on Form 10-K, for the year ended December 31, 2008. The Company does not undertake to update or revise any of its forward-looking statements or guidance even if experience or future changes show that the indicated results or events will not be realized.
CONTACT: Fuel Systems Solutions, Inc.
Lippert / Heilshorn & Associates
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