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Statement by American Honda Motor Co., Inc. on FuelMaker Sale
 Date: May 01, 2009 07:37
 Submitted by:  JeffX
 Source: American Honda Corporate PR
 Credibility Rating: Not Specified


RE: Sale of FuelMaker Assets and the Intellectual Property Previously Used by FuelMaker.



May 1, 2009 - American Honda Motor Co., Inc., is very pleased that MTM S.r.l. (MTM), a subsidiary of Fuel Systems Solutions Inc., of Santa Ana, CA, has agreed to purchase the assets of FuelMaker Corporation as well as the intellectual property that had been used by Fuelmaker in its business.

Honda expended considerable time and effort to find a purchaser of the intellectual property previously used by FuelMaker that it fully expects will both continue the production and sales of the home natural gas refueling appliances, as well as honor service warranties for existing customers.

Consistent with Honda's efforts over the past 10 years to advance technology that will make natural gas a viable alternative fuel, Honda invested substantial resources in FuelMaker to support development of home refueling and to advance the commercial use of natural gas as a clean and less expensive fuel. This included a minority interest in FuelMaker Corporation held by American Honda as well as financial assistance that was provided to FuelMaker for a number of years.

We fully expect that Fuel Systems Solutions Inc. and MTM will continue the development of both commercial refueling appliances as well as provide excellent support for natural gas-powered products and the natural gas industry. The advancement of natural gas fits into their philosophy and the expansion of their global business efforts.

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.

Last edited by JeffX on May 01, 2009 07:39

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