Quantum Fuel Systems Technologies Worldwide, Inc., (Nasdaq: QTWW) today announced that its subsidiary, Tecstar Automotive Group, has acquired a 51% interest in Empire Coach Enterprises, LLC, a second stage limousine manufacturer, for $600,000 cash. Mr. Michael Misseri, who will serve as Empire Coach’s Chief Operating Officer, will own the remaining 49%. Empire Coach will be located in East Brunswick, New Jersey. Among other business opportunities, Empire Coach will pursue “qualified vehicle modifier” status with Ford Motor Company (“Ford QVM”) in order to modify Lincoln Town Cars to limousines. Empire will also be able to offer alternative fuel limousines using Quantum’s advanced fuel system technologies for compressed natural gas, propane, and hydrogen applications.
“We have announced our strategic direction to expand our markets and customer base in our second stage manufacturing business in order to increase revenues. We believe Empire Coach Enterprises fits this mission,” said Alan P. Niedzwiecki, President and CEO of Quantum. “We believe the limousine market is growing and, as a result, we believe the addition of Empire Coach Enterprises will result in increased revenues for the company by enhancing our existing second stage manufacturing capabilities and capturing new alternative fuel vehicle opportunities.
About Quantum
Quantum and its subsidiary, Tecstar Automotive Group, specializes in powertrain engineering, system integration, and manufacturing of packaged fuel systems and accessories for specialty vehicles and applications including fuel cells, hybrids, alternative fuels, hydrogen refueling, new body styles, mid-cycle vehicle product enhancements and high performance engines and drive trains for OEMs and consumers of aftermarket parts and accessories. Quantum also designs and manufactures hybrid and fuel cell vehicles.
Loading...