NEW YORK, July 25, 2013 (GLOBE NEWSWIRE) -- Fuel Systems Solutions, Inc. (Nasdaq:FSYS) announced that its M.T.M. s.r.l. CNG Refueling Division presented its US dedicated line of CNG refueling stations, CUBOGAS USA. CUBOGAS USA's official launch took place last month during the ACT EXPO 2013 in Washington, DC. CUBOGAS is a customized CNG refueling station, engineered to comply with all US standards and regulations.
Mariano Costamagna, Fuel Systems' CEO, said, "As the CNG market grows in the US, there remains a pressing need for the development of refueling infrastructure that is practical and reliable and without which market growth may be constrained, particularly in the face of expanding demand on the part of fleet customers. Fuel Systems' CUBOGAS CNG refueling stations draw upon proven technologies that enable cost-efficient future hardware upgrades to support the expectation that fleets are likely to rapidly broaden their use of CNG fuel once they adopt CNG equipment. While likely to be only a small contributor to financial results in the near term, this launch affirms Fuel Systems' commitment to serving fleet customers, leverages the Company's Dresser/CUBOGAS acquisition, and is strategically important for the long-term development of the US gaseous fuels market."
CUBOGAS USA product offerings include power capacity from 50 up to 800 HP and refueling capability from 15 to 2800 GGE per hour, enabling this product to satisfy a broad range of customer needs. CUBOGAS is based on Nuovo Pignone, a historic and reliable technology upon which one of the first ever CNG dedicated compressors was built. Today CUBOGAS is manufactured and assembled in Cherasco, Italy and warehoused at the IMPCO Automotive facilities in Sterling Heights (MI). Upon the development of a network of technicians sufficient to ensure excellent customer support, Fuel Systems plans to construct an assembly line at IMPCO Automotive's Sterling Heights facility. MTM CNG Refueling Division offers a customized product and a turn-key solution to ensure desired quality and performance for the end user.
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