Business
AFS receives over $500,000 in orders for new vehicle programs in India
CALGARY, Nov. 5 /CNW/ - Alternative Fuel Systems (2004) Inc. ("AFS" or the "Company") (TSX Ventur...
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[{"type":"text","content":"\n\n\n\nCALGARY, Nov. 5 /CNW/ - Alternative Fuel Systems (2004) Inc. ("AFS" or\nthe "Company") (TSX Venture: AFX) announced today that it has received\napproximately $540,000 CDN in new purchase orders for engine controllers.\nThese orders were originated by two of India's largest motor vehicle builders\n("original equipment manufacturers" or "OEM's"). Advantek Fuel Systems Pvt.\nLtd. ("Advantek"), an Indian company that is working with AFS to provide\ncompressed natural gas ("CNG") vehicle components and systems in India,\nreceived system orders from the OEM's and subsequently placed controller\norders with AFS. The electronic controllers are the heart of the CNG system,\nensuring optimal engine performance and exhaust emissions across the vehicle\noperating range.\n\n\nAFS President and CEO Jim Perry stated that "One of the OEM's that has\nchosen our product is TATA Motors, India's largest manufacturer of motor\nvehicles. We are developing a customized engine controller for a new light\ntruck they are introducing that is fueled by compressed natural gas. This new\nvehicle is known as the CNG "ACE". AFS will supply controllers for CNG ACE\nproduction scheduled to begin early in 2008. If the new vehicle is successful\nin the market, there may be substantial follow-up orders for our products."\n\n\n"A second major Indian OEM has also decided to use AFS products. Their\npurchase order covers supply of a custom controller and other selected CNG\ncomponents for vehicle production also planned to commence in 2008. Again, if\nthe vehicles sell well, additional orders may be received."\n\n\nMr. Perry added that "These orders represent the culmination of more than\ntwo years of concentrated effort by both AFS and Advantek. Being selected as a\nsupplier to two of the largest players in the Indian vehicle market represents\na major opportunity for AFS."\n\n\nAFS is a Canadian company providing innovative and cost-effective\nsolutions to the growing global problem of harmful exhaust emissions from\ninternal combustion engines. AFS has commercialized electronic engine\nmanagement systems enabling internal combustion engines to operate on a\nvariety of fuels. The Company is headquartered in Calgary, Canada and trades\non the TSX Venture Exchan...