Impco (NASDAQ:IMCO)
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IMPCO Technologies Announces Shareholder Approval for the
Acquisition of the Remaining 50% Interest in BRC
CERRITOS, Calif., March 10 /PRNewswire-FirstCall/ -- IMPCO Technologies Inc.,
(NASDAQ:IMCO) announced today the favorable shareholder approval of the
acquisition of the remaining 50% interest in BRC, S.r.l., an Italian limited
liability company, from BRC's founders. The favorable shareholder vote was
over 97% of votes cast. IMPCO had previously completed the purchase of the
first 50% interest in July 2003. The transaction is expected to close later
this month.
About IMPCO Technologies and BRC
IMPCO and BRC design, manufacture, market and supply advanced alternative fuel
systems and related products for the transportation, industrial and power
generation markets. Headquartered in Cerritos, California and Cherasco, Italy,
they have offices in Asia, Europe, Australia and South and North America. More
information can be found at IMPCO's web site, http://www.impco.ws/ and at BRC's
web site, http://www.brc.it/.
Except for historical information, the statements, expectations and assumptions
contained in the foregoing press release are forward-looking statements. Such
forward-looking statements include, but are not limited to, the company's
expectations regarding consolidated revenues in future periods and the
likelihood that expected closing conditions will be satisfied and the
transaction will be consummated as and when expected. Such statements are
subject to a number of risks and uncertainties, and actual results could differ
materially from those discussed in any forward-looking statement. Factors that
could cause actual results to differ materially from such forward-looking
statements include, among other factors, prevailing market conditions that
affect our stock price and our ability to raise capital; our ability to obtain
consent of our senior lender to this transaction; our ability to redeem our
senior subordinated notes; our ability effectively to integrate our management
team during the expected transition period; the combined company's ability to
meet OEM specifications; the success of our recently announced programs with
strategic partners; factors that impact growth in international markets; and
the level and success of the company's development programs with OEMs. Readers
also should consider the risk factors set forth from time to time in the
company's SEC reports, including but not limited to those contained in the
section entitled "Management's Discussion & Analysis of Financial Condition and
Results of Operation - Risk Factors" in its Annual Report on Form 10-K for the
fiscal year ended December 31, 2003. The company does not undertake to update
or revise any of its forward-looking statements even if experience or future
changes show that the indicated results or events will not be realized.
For further information, contact Mr. Dale Rasmussen, Investor Relations
Phone: +1-206-315-8242
Fax: +1-206-315-8301
DATASOURCE: IMPCO
CONTACT: investor relations, Mr. Dale Rasmussen of IMPCO Technologies
Inc., +1-206-315-8242, or fax, +1-206-315-8301
Web site: http://www.brc.it/
Web site: http://www.impco.ws/