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Axs Brendan Wood Topgun Index ETF | AMEX:TGN | AMEX | Exchange Traded Fund |
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0.00 | 0.00% | 30.335 | 0 | 01:00:00 |
RNS Number:4658T Turbo Genset Inc. 19 December 2003 Friday 19th December 2003 TURBO GENSET RECEIVES FOLLOW ON ORDER FOR POWER SUPPLY LASERS Turbo Genset is pleased to announce that its, power electronics division, Intelligent Power Systems ("I-Power"), has received an order worth up to US$2.4 million (#1.4 million) from PRC Laser Corporation ("PRC") of New Jersey, for the supply of high voltage power supplies for use with their industrial lasers. This order covers the supply of units over the next three years and is based on the successful introduction of I-Power's power supply across PRC's range of laser products. Actual deliveries will be dependant upon demand for PRC's lasers, which are in industries such as volume metal processing and automotive. This is the second order received from PRC this year and represents a significant expansion of the Company's high voltage business, which was one of the goals set for 2003. The power electronics business has now won orders worth #4.9 million in 2003. Commenting on this order Colin Besant, Chairman and CEO, said: "2003 has been an excellent year for our power electronics business with a number of significant orders. This follow on order is especially important as it illustrates the quality and competitiveness of our products. With prestigious customers such as the London Underground and PRC we start 2004 with confidence." For further information, please contact: Turbo Genset Inc - UK Colin Besant, Chairman and Chief Executive Tel:+44 (0)208 564 4460 Fraser Searle, Chief Financial Officer Michael Hunt, Group Sales Director Tel :+44 (0)191 495 4850 Turbo Genset Inc - Canada Richard Kapuscinski, Business Development Tel: +1 (905) 690 1722 Gavin Anderson & Company (PR) Neil Bennett / Ken Cronin Tel:+44 (0)207 554 1400 Seton Services (IR) Toni Vallen Tel:+44 (0)207 727 3073 Company Website: www.turbogenset.com NOTES TO EDITORS Turbo Genset announced its first order with PRC in March 2003, worth approximately US$750,000. About Turbo Genset Turbo Genset develops innovative products for power generation and power conditioning. The Group was established in 1993 as a spin-off from Imperial College, London and was floated on the London stock exchange in July 2000 and soon after obtained a secondary listing in Toronto. In July 2001, the Group acquired Intelligent Power Systems Limited (I-Power) specialising in power electronics. Turbo Genset will announce full year results to 31 December 2003 on 11th March 2004. About Power Electronics Power electronics products take a range of power inputs and condition them to achieve outputs of precisely defined characteristics for applications such as industrial lasers, Ultra Violet sterilization systems and railway power electronics systems. About PRC Laser Corporation PRC Laser Corporation ("PRC") is the largest U.S. manufacturer of high power industrial CO2 lasers, offering lasers with power levels from 1,000 to 6,000 watts to OEM machine builders and end users with special purpose applications. PRC is a subsidiary of Dover Corporation, a world-wide, diversified manufacturer of industrial products, and is listed on the New Stock Exchange (NYSE: DOV). Web sites: www.PRCLasers.com and /www.dovercorporation.com. Forward Looking statements This news release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance, and underlying assumptions and other statements that are other than statement of historical fact. These statements are subject to uncertainties and risks including, but not limited to, the ability to meet ongoing capital needs, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition, the need to protect proprietary rights to technology, government regulation, and other risks defined in this document and in statements filed from time to time with the applicable securities regulatory authorities. This information is provided by RNS The company news service from the London Stock Exchange END CNTGUGBGPUPWUBB
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