Fuel Systems Solutions (FSYS) Acquiring Productive Concepts International For $11.1M

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08:21:33 am on August 5, 2010

Fuel Systems Solutions just announced that it is in the pr0cess of purchasing Productive Concepts International’s alternative fuel vehicle business for $11.1 million, expanding its US automotive OEM market penetration. The purchase includes $975,000 in assumed debt and is expected to be complete within the next 30 days, after which Productive Concepts International will become Fuel Systems Solutions’ subsidiary.

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In a press release, Matthew Beale, president, chief financial officer and secretary of Fuel Systems Solutions, commented on the acquisition:

“The strategic fit between PCI and IMPCO is excellent. The combined business will be positioned to offer OEM and fleet customers a fully-integrated package including systems and vehicle modification. We see PCI as a platform for delivering the DOEM model we have deployed successfully internationally in the growing North American market. In addition to an impressive set of systems integration capabilities, PCI brings to our group a talented management team and a strong revenue pipeline. This transaction clearly demonstrates our commitment to building the leading alternative fuels platform in the North American market.”

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