NEW YORK, Aug. 11, 2010 (GLOBE NEWSWIRE) -- Fuel Systems Solutions, Inc.'s (Nasdaq:FSYS) subsidiary, IMPCO® Ecotrans, signed a two-phase full service distribution agreement with Indianapolis-based Cummins Crosspoint for IMPCO Ecotrans manufactured auxiliary power units (APU) supply to the rail industry. The initial phase covers the five states of Indiana, Illinois, Kentucky, Tennessee and West Virginia and paves the road for nationwide rollout distribution using the Cummins Crosspoint dealer network in a second phase.
IMPCO Ecotrans Technologies manufactures the PR30, PR35 and PR40 series locomotive idle reduction units for North American and European markets. Cummins Crosspoint will provide distribution, installation, training and field technical support services for IMPCO's rail APUs.
"We entered this agreement to support increasing sales potential for our idle reduction equipment to the North American rail industry," said Matthew Beale, President, CFO and Secretary. "IMPCO Ecotrans' superior APU technology shuts down the locomotive engine while maintaining locomotive operating systems when the locomotive is in shutdown mode, thereby generating significant fuel and emissions savings."
"This strategic partnership between our two organizations enables us to focus on leveraging our manufacturing capabilities," said Brian Chipman, Managing Director for IMPCO Ecotrans Technologies. "Cummins Crosspoint and its solid network of 18 service and distribution locations is perfectly fitted to provide key regional customers with accelerated on-site technical support to minimize locomotive downtime."
"Cummins Crosspoint has been on the leading edge of Auxiliary Power Unit innovation and distribution for the last 10 years. Our wide ranging customer relationships, knowledge of federal and local grants and trained technicians made for a logical partnership with IMPCO's locomotive APU products. We look forward to providing world class support for existing products as well as developing a new and larger customer base," stated John Smitson, VP and General Manager for Cummins Crosspoint.
IMPCO® Ecotrans, a division of IMPCO Technologies, is based in Ontario-Canada providing turn-key solutions for mobile equipment and stationary engines, including industrial forklifts, sweepers, auxiliary power units/generators, and construction equipment and is dedicated to a better world through cleaner air.
About Cummins Crosspoint
Cummins Crosspoint, LLC is a full service genuine Cummins® distributor and one of the largest in the global Cummins, Inc. (NYSE:CMI) distribution network. Cummins Crosspoint distributes and services engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Cummins Crosspoint also distributes and services Carrier Transicold™ refrigeration and Yanmar® engine products along with Variable Torque Motors® hybrid solutions. Headquartered in Indianapolis, Indiana (USA) Cummins Crosspoint serves customers in Indiana, Illinois, Kentucky, Tennessee and West Virginia through a network of 18 service and distribution locations with over 500 dedicated and skilled factory certified technicians, experienced parts support personnel, and application specialists. Cummins Crosspoint - the intersection of solutions and service. ™ Web at www.crosspoint.cummins.com
Forward-Looking Statements
This press release contains certain forward-looking statements that involve risks and uncertainties, including, without limitation, expressed or implied statements concerning the company's outlook for 2010, as well as its position in the market place, the success of products and the success and integration of recent acquisitions. Such statements represent only our opinions and predictions. The Company's actual results may differ materially. Factors that may cause the Company's results to differ include, but are not limited to, risks that we cannot integrate the acquired assets into our business promptly and efficiently, that the patents or certifications acquired are insufficient or not useable by us, that expected sales do not materialize, that changes in emissions regulations may not significantly increase demand for the Company's products, the global economic downturn may reduce customers' demand for new automobiles and/or our products, original equipment automobile manufacturers do not adopt the Company's fuel systems as expected, that expected sales not based on long-term contracts will materialize, that changes in emissions regulations will not significantly impact demand for the Company's products, that reduction in oil prices will reduce the demand for our products and that currency fluctuations will reduce our revenue or financial condition. Readers also should consider the risk factors set forth in the Company's reports filed with the Securities and Exchange Commission, including, but not limited to, those contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K, for the year ended December 31, 2009. 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.
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.