This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Fuel Systems Offers Bi-Fuel CNG Chevrolet Cruze Sedan

NEW YORK, Aug. 23, 2013 (GLOBE NEWSWIRE) -- IMPCO Automotive, a subsidiary of Fuel Systems Solutions, Inc. (Nasdaq:FSYS) announced the development and availability of its bi-fuel CNG fuel system for the Model Year (MY) 2014 Chevrolet Cruze 1.4L sedan. These complete fuel systems are currently the only EPA Certified Bi-Fuel CNG systems for MY2014 sedans in the U.S. market. The systems will be available throughout Fuel System's IMPCO Automotive nationwide certified installation network beginning September 2013.

Mariano Costamagna, Fuel Systems' CEO, said, "We are thrilled to obtain the first EPA certification for a MY2014 bi-fuel sedan that provides both fleets and consumers an option when considering gaseous fueled transportation. The after-market kits we have developed for the MY2014 Chevrolet Cruze offer a robust solution that eliminates 'range anxiety' by including an 8.4 Gasoline Gallon Equivalent (GGE) tank as standard equipment. Our US DOEM programs are experiencing growing demand for bi-fuel pickup truck and van solutions for the fleet market, and our expansion into passenger vehicles is strategically important to our growth plans in the U.S. The availability of the MY2014 Chevrolet Cruze will help meet the increasing interest of U.S. fleets and consumers for bi-fuel passenger vehicles."

The IMPCO Automotive powered Chevrolet Cruze includes a trunk mounted Type 3 tank providing over 200 miles of additional range while allowing for nearly 7 cubic feet of available storage space. The entire gaseous fuel system adheres to IMPCO Automotive's strict quality, durability, and safety testing requirements to ensure a superior product. IMPCO Automotive plans to pursue development and compliance for this bi-fuel CNG system through MY2016.

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 2013, as well as its position in the market place, the success of its products and its effective tax rate for the year. 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 a further slowing of economic activity, our ability to reduce our cost structure and expenses as anticipated; the unpredictable nature of the developing alternative fuel US automotive market; customer dissatisfaction with the Company's products or services; the inability of the Company to deliver its products on schedule; the availability of gaseous fueling infrastructure in our markets globally; the price differential between alternative gaseous fuels and gasoline; unanticipated economic uncertainties caused by political instability in certain of the local markets we do business in; the growth of non-gaseous alternative fuel products and other new technologies; currency rate fluctuations and devaluations; our ability to promptly realign costs with current market conditions; unanticipated litigations; differences in the tax policies of each country from which the Company derives income that would impact our effective tax rate; potential changes in tax policies and government incentives and their effect on the economic benefits of our products to consumers; the continued weakness in financial and credit markets and the economy; and the repeal or implementation of government regulations relating to reducing vehicle emissions. 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, 2012. The Company does not undertake to update or revise any of its forward-looking statements.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,888.35 +168.43 0.95%
S&P 500 2,102.63 +22.22 1.07%
NASDAQ 5,156.3060 +47.64 0.93%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs