Posts Tagged ‘Automotive Supplier’

ASX Company News: Automotive Technology Group Enters Distribution Agreement

Friday, August 26th, 2011

Automotive Technology Group Limited (ATJ) is pleased to announce an agreement with Queensland based, Bullet Performance Products Pty Ltd for the exclusive aftermarket distribution of ATG products including Sprintex superchargers and supercharger systems in Australia and New Zealand. Under the agreement, Bullet Cars will manage the supply of Sprintex aftermarket products to ATG’s existing dealer network, provide sales support in Australia and New Zealand, manage new dealerships and utilize the Sprintex supercharger range in new Bullet Cars design and performance, off road and diesel supercharger systems.

Bullet Cars is a prominent designer and manufacturer of supercharger systems to suit both the performance and 4WD markets throughout Australasia and overseas. The Sprintex range of superchargers and supercharger systems will now utilise the sales network, technical support team and well developed marketing and distribution network that Bullet Cars have developed over the past 8 years.

“We believe that the handling of ATG’s aftermarket products by Bullet Cars in Australia and New Zealand will accelerate sales and further enhance the overall service and delivery to the existing dealer networks of both ATG and Bullet Cars and ensure a continuing stream of innovative affordable supercharger product now and into the future,” said Tom Rabold, Managing Director of Bullet Cars.

Automotive Technology Group (ATG) is the designer and manufacturer of the patented low emission, high fuel efficiency Sprintex® twin screw supercharger. ATG is now ideally positioned to participate in the exponential growth underway in the global forced induction marketplace. ATG operates from a specialist research and development, and low volume manufacturing facility in Perth, Western Australia and is establishing a high volume, low cost manufacturing facility in Malaysia with a joint venture partner, Proreka. Kenmar Corporation is ATG’s exclusive sales representative for the original equipment manufacturer market (OEM) in North and South America and Proreka (M) Sdn. Bhd. is ATG’s exclusive sales agent for Asia and exclusive distributor for Malaysia.

www.atggroup.com.au

www.sprintex.com.au

http://www.traderdealer.com.au/fundamentals/atj

Post to Twitter

Tags: , , ,
Posted in ASX Company News | No Comments

ASX Company News: Orbital Corporation Acquires Sprint Gas

Friday, May 20th, 2011

International clean energy technology group Orbital Corporation Limited (OEC), is pleased to announce its investment in the LPG aftermarket business of Sprint Gas (Aust) Pty Ltd. This will be effected by Orbital’s acquisition of 55% of the shares of a newly formed company which will acquire the business assets of Sprint Gas including all brands, intellectual property, contracts and other tangible assets. The Sprint Gas business was founded in 1978 by the Boemo family who will continue to own 45% of the business as a co-investor with Orbital, with appropriate put and call options between the shareholders.

Imports, assembles and distributes automotive LPG and CNG conversion kits in the Australian LPG aftermarket. It is one of the largest distributors in the Australian LPG aftermarket with forecast sales of approximately $7 million in the year ending 30 June 2011. It also distributes OMVL SpA, AEB Srl, Tomasetto Achille Srl product, all manufactured in Italy, and Linh Gas Cylinders from Thailand.  It has distribution centres in Victoria, Queensland and Western Australia and has over 30 years’ experience in the LPG systems supply business. Under the terms of the acquisition agreement, Orbital will make an equity investment of $2.0 million in a newly formed entity, which will be assigned the Sprint Gas brand names, all IP and other contracts of the business as well as tangible assets. The transaction contemplates total business assets of $3.6 million, including debtors and creditors; a small component of goodwill will also be assumed by the newly formed ‘Sprint Gas’. Key management and operating personnel will transfer across to ‘Sprint Gas’ with the business.

Commenting on the acquisition, Orbital’s CEO, Mr Terry Stinson, said, “We are very pleased to be able to expand our LPG aftermarket business. Sprint Gas has been a clear leading player in the Australian LPG aftermarket for many years. Its product portfolio combined with Orbital’s “Liquid” product, will give the new business a full range of performance and price options to offer to the market. The acquisition fits well with Orbital’s alternative fuels strategy and also fits with our goal to grow our domestic business”.

Orbital is an international developer of innovative technical solutions for a cleaner world. Orbital provides innovation, design, product development and operational improvement services to the world’s producers, suppliers, regulators and end users of engines and engine management systems for application in motorcycles, marine and recreational vehicles, automobiles and trucks. Orbital’s principal operations in Perth, Western Australia, provide a world class facility with capabilities in design, manufacturing, development and testing of engines and engine management systems.

www.orbitalcorp.com.au

http://www.traderdealer.com.au/fundamentals/oec

Post to Twitter

Tags: , , , ,
Posted in ASX Company News | No Comments

ASX Company News: Autodom Acquires DAIR Industries

Thursday, September 2nd, 2010

The directors of Autodom (AIE) are pleased to announce that two of its wholly owned subsidiaries have completed the acquisition of the assets of DAIR Industries, a Victorian based automotive components manufacturer. DAIR is a highly regarded manufacturer of metal pressings and assemblies, injection and blow moulded plastic parts and cables. It is a key supplier to the Australian car manufacturers, in particular Ford and Toyota. Like Autodom DAIR has been active in recent years in acquiring and consolidating other component manufacturers. The addition of DAIR’s revenue base of $45m will see the total revenue for Autodom approximating $120m in the current financial year. There are considerable synergistic benefits to the acquisition and it will have an immediate positive impact on aiA’s earnings.

The acquisition was completed at a purchase cost of $9.9m plus the assumption of approximately $3.3m in liabilities related to employee entitlements. Funding was provided by a combination of a $5m bridging loan provided by a Director of the Company, a grant from the Automotive Industry Structural Adjustment Program (AISAP), vendor finance and a small machinery lease package.  The bridging loan, which is at arms length and on commercial terms, will be repaid via a fully underwritten rights issue to be undertaken in the next few weeks.

The acquisition of DAIR will have many positive consequences for Autodom and its subsidiary aiAutomotive including a return to a level of revenue that enables profitable operations. This will counteract a decline over the past 3 years the addition of a highly competent and successful management team, a more even spread of business between the three Australian car manufacturers and new business development opportunities, a more diverse product range offering valuable synergies to operations across 5 plants in South Australia and Victoria . Autodom plans to focus its activities in the current financial year on successfully integrating DAIR with aiAutomotive and ensuring all available synergies and opportunities are achieved.

www.autodom.com.au

http://www.traderdealer.com.au/Fundamentals/aie

Post to Twitter

Tags: , , , ,
Posted in ASX Company News | No Comments

Automotive Technology Group Secures $8 million Chinese Agreement

Thursday, March 18th, 2010

Leading Australian clean automotive technology company Automotive Technology Group (ATJ) is pleased to announce that it has signed a $8 million distribution agreement with leading Chinese automotive distribution group, Huachuang Zhenxin Automobile Technology Development Co Limited for the exclusive distribution of ATG’s Sprintex® Supercharger products in China. This agreement will give Huachuang the exclusive rights to market and sell ATG aftermarket automotive products including its patented low emissions, high fuel efficiency Sprintex® Supercharger in China, Hong Kong, Macau and Taiwan.

Under the terms of the agreement, Huachuang will purchase Sprintex® Supercharger products to the value of approximately A$2 million in the first 12 months of the agreement, and approximately A$3 million in each of the second and third 12 month periods of the agreement. The agreement is for a period of 3 years from 1 March 2010. The supercharger kits will initially be developed by ATG at its state of the art Perth facilities and will then be delivered to Huachuang for final fitting and conversion to Chinese specifications. ATG will provide all necessary technical support, which will include; installation training, accessories development training, and Electronic Control Unit training. The agreement will also see Huachuang undertake the development of supercharger kits. All supercharger kits developed by Huachuang will include an ATG Sprintex® Supercharger. Huachuang will also implement a marketing plan to promote the ATG products in each country covered under the agreement.

ATG managing director Steven Apedaile said: “We are delighted to have reached this agreement with Huachuang, as it is a reflection of the successful joint efforts in product development between our Company and Huachuang. China is now the world’s largest automotive market with sales of more than 13 million vehicles for 2009 and over 2.8 million vehicles sold over the first two months in 2010. Our agreement with Huachuang represents a major opportunity for the Company to continue to grow its brand and generate significant sales revenues in China.” Huachuang’s General Manager Joe Li said: “We used to be very strong in the turbo market, but we have now divested our turbo sector assets in favour of the Sprintex® distribution opportunity in what is a rapidly expanding market for supercharger systems for the aftermarket in Greater China. We have a very strong market position in the Chinese market, and we look forward to building on that with ATG and its market leading Sprintex® Supercharger product range in the Greater China region, where we aim to become number one in the supercharger market in China.”

www.atggroup.com.au

Post to Twitter

Tags: , , ,
Posted in ASX Company News | No Comments

Orbital Corporation Signs JV with Chinese Car Maker

Monday, May 4th, 2009

Orbital Corporation Limited (OEC ) and Chongqing Changan Automobile Co., Ltd of China (“Changan”) are pleased to announce that they have entered into a development contract to jointly develop a concept engine. The development will be carried out on Changan’s current gasoline engine platform with an objective to achieve a significant fuel economy benefit utilising Orbital’s FlexDI™ technology. The program is focused on fuel economy improvement while achieving Euro IV emissions level.

Orbital was selected as the technology with the best potential to meet the aggressive targets required for the program. If successful, it is planned to take the FlexDI™ concept engine to mass production in a Changan vehicle. Changan will pay Orbital AU$2.4 million to carry out the proof of concept development work in Orbital’s engineering facility in Perth over the next 18 months.

Orbital’s FlexDI™ is a patented direct injection technology utilising low pressure and air assist, Terry Stinson, Orbital’s Chief Executive Officer, commented “Changan are highly regarded in the Chinese automotive market and we are confident of achieving the required technical outcome”. Mr. Zhan Zhangsong, Vice President of Changan Auto Research Institute, added “We believe that this project, if successful, will provide Changan a competitive advantage in the Chinese market”. 

www.orbitalcorp.com.au

Post to Twitter

Tags: , , , ,
Posted in ASX Company News | No Comments