Fuel Systems Solutions (FSYS) Subsidiary IMPCO Wins Europe Deal For Idle Reduction Equipment

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09:51:33 am on August 3, 2010

Fuel Systems Solutions (FSYS) has announced that its subsidiary IMPCO Ecotrans has won its first significant supply agreement for its locomotive idle reduction equipment in Europe. They will initially supply 50 locomotive auxiliary power units within a few months and installation is expected to be completed by the end of the year.  No word on the name of the European company or the financials of the deal.

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“This award demonstrates European recognition of IMPCO(R) Ecotrans’ superior APU technology,” said Matthew Beale, president, CFO and secretary. “We have long provided locomotive idle reduction equipment to our North American customers, generating fuel and emissions savings by eliminating the unnecessary locomotive idling that typically occurs in the absence of an APU. We believe there is additional potential for this technology in Europe and are exploring additional opportunities there.”

The US DOE says that without idle reduction technology, the average freight locomotive idles 3K hours per year using 12,000 additional gallons of diesel fuel which IMPCO’s system almost completely eliminates.

Shares of FSYS are down about 1% today, but shares have improved considerably in recent weeks and looking more bullish.  There is considerable support in the $25 area.

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