Third New Facility in 2008 Further Strengthens Ability to Serve
Growing OEM Customer Base
Annual DOEM Conversion Capacity Now Exceeds 100,000 Vehicles
SANTA ANA, Calif., Dec. 3, 2008 (GLOBE NEWSWIRE) -- Fuel Systems Solutions, Inc. (NasdaqGM:FSYS - News) celebrated the inauguration of a new delayed-OEM (DOEM) installation facility in Pisa, Italy. Under the DOEM model, Fuel Systems receives vehicles directly from automotive OEMs, installs its proprietary propane or natural gas fuel systems and delivers completed bi-fuel vehicles directly to the dealership network.
``We pioneered the DOEM distribution model for our products,'' said Fuel Systems CEO Mariano Costamagna. ``Our long standing partnerships with OEMs and their growing commitment to the alternative fuel market provides important evidence of the continued emergence of natural gas and propane as the preferred alternative fuels for passenger transportation. We believe this trend will continue, and the Pisa facility increases our position in Europe to be the primary beneficiaries across the OEM and aftermarket distribution platform. Now our annual DOEM conversion capacity exceeds 100,000 vehicles and can be scaled rapidly to respond to shifts in demand.''
During 2008, Fuel Systems has rapidly expanded its DOEM activities to address growing OEM participation in the dual fuel gasoline/natural gas and gasoline/propane market segment. The company increased production capacity at its Cherasco, Italy facility throughout the year and opened three new dedicated DOEM operations: in the Italian port city of Livorno in May; in Czakram, Poland in October to serve the broader European market; and in Pisa in December. The Pisa facility was completed quickly, in approximately two months, and is expected to be fully operational in early 2009.
Fuel System supplies and installs propane and natural gas fuel systems for over 30 different vehicle models produced by 10 automotive OEMs.
About Fuel Systems Solutions
Fuel Systems Solutions, Inc. (NasdaqGM:FSYS - News), a U.S.-based company, through its U.S. and foreign subsidiaries, delivers alternative fuel solutions for transportation and industrial applications that reduce emissions, displace petroleum and generate savings, which is extremely relevant today. The company is comprised of two subsidiaries, industrial under IMPCO Technologies and transportation under BRC. IMPCO designs, manufactures, markets and supplies advanced products and systems to enable internal combustion engines to run on clean burning gaseous fuels such as natural gas, propane and biogas. IMPCO is a leader in the heavy duty, industrial, power generation and stationary engines sectors. Headquartered in Santa Ana, California, IMPCO has offices throughout Asia, Europe and North America. BRC, through its subsidiaries, produces a complete range of systems for converting vehicles to gaseous fuel to meet market requirements. 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. Headquartered in Cherasco, Italy, BRC has offices throughout Asia, Europe, Australia and South America. Additional information is available at http://www.fuelsystemssolutions.com.
Fuel Systems Solutions, Inc.
Bill Larkin, CFO
(714) 656-1320
Lippert / Heilshorn & Associates
Investor Relations Contacts:
Kirsten Chapman
Cathy Mattison
cmattison@lhai.com
(415) 433-3777
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