Impco Gets $6 Million Order from State

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Fuel Systems Solutions Inc., the new holding company for Impco Technologies Inc., said Thursday that it has received orders worth $6 million from the Environmental Protection Agency and the California Air Resources Board to build fuel systems utilized in off-highway mobile industrial equipment.


The orders come as a result of mandates for city and state vehicles, such as forklifts, sweepers and man-lift equipment, to become compliant with emissions standards that become effective on Jan. 1.


“These initial orders represent a ramp up of business related to the new emissions regulations for the industrial market,” said Mariano Costamagna, president and chief executive officer of Fuel Systems Solutions. “Based on our experience with previous EPA and CARB mandates, new emissions regulations typically produce a gradual increase in business rather than extraordinarily large orders all at once. We look forward to working closely with our OEM customers to support them in meeting requirements for the new emissions standards.”


Costamagna also noted that similar emissions regulations for stationary industrial equipment, such as irrigation pumps, power generators and construction-related machinery, are expected to be mandated in 2008.


Impco Technologies, based in Cerritos, will manufacture and deliver the equipment. Impco announced this summer its plans to reorganize the company and create a holding company, Fuel Systems Solutions, of which Impco will be a subsidiary. Fuel Systems is based in Santa Ana.


Shares in Fuel Systems were up 93 cents to $19.10 in early trading Thursday.

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