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Official Honda response to Fuelmaker situation
 Date: April 09, 2009 18:44
 Submitted by:  JeffX
 Source: American Honda Corporate PR
 Credibility Rating: Not Specified


Honda has issued the following statement regarding the situation with Fuelmaker Corporation:

American Honda Motor Co., Inc. (Honda) has a minority interest in FuelMaker Corporation and has provided substantial financial assistance to FuelMaker for a number of years.

While efforts continue to consummate the sale of the FuelMaker, considering
its financial condition, FuelMaker has been put into receivership. The
receiver has authority, among other things, to file an assignment in
bankruptcy on behalf of FuelMaker.

Consistent with Honda’s efforts over the past 10 years to advance
technology that will make natural gas a viable alternative fuel, it is in
the company’s best interests to maintain the sales and servicing of CNG
refuelling equipment. Honda plans to continue sales of the Honda Natural
Gas Civic GX, the only dedicated natural gas-powered passenger vehicle
available from a major automaker in North America.

The aggressive effort to find a purchaser that would support the sales and
servicing of natural gas refuelling products in the future has led to
negotiations with an entity that embraces this vision. We believe these
negotiations are now in the final stages. We are not able to provide
further comment about this matter pending finalization of the legal matters
involved.

Last edited by JeffX on April 09, 2009 18:47

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