IMCO Impco Technologies (MM)

IMPCO Completes Emission Certified Engine Approvals Paving the Way for $35 Million Growth in 2004 CERRITOS, Calif., Dec. 17 /PRNewswire-FirstCall/ -- IMPCO Technologies, Inc. announced today it has received Executive Order approval from the California Air Resources Board (CARB) for the General Motors 3.0 Lt., the Mitsubishi 2.0 Lt. and the Mitsubishi 2.4 Lt. industrial engines. This approval confirms the engines, with the new IMPCO Spectrum(R) electronic emissions control system, comply with the new CARB and Federal EPA off-road industrial emission standards that become effective January 1, 2004. This brings the total number of emission certified engine configurations IMPCO has earned this year to 10 and completes the company's certification strategy for 2004 certified engine products. Additionally, it positions IMPCO as the leading Tier I supplier of certified engines and fuel systems to off-highway industrial Original Equipment Manufacturers (OEMs) with products that can be applied to more equipment applications than any other supplier. Mr. Brad Garner, IMPCO Vice President and Chief Operating Officer for Americas & Asia Pacific, said: "This approval clears the way for IMPCO to execute existing and pending orders for certified engine systems that enable OEMs to meet the new emission regulations." He added: "We have commitments in place for shipments that will begin in the fourth quarter of 2003 with potential incremental revenue growth next year of over $35 million. IMPCO has previously announced receiving orders from industry leading OEMs like NACCO and Mitsubishi Caterpillar and we expect further commitments will come as OEMs prepare to meet this new emission regulation." Effective January 1, 2004, all new off-highway mobile equipment manufactured for the US market will have to meet stringent new CARB and Environmental Protection Agency (EPA) emission regulations which require the use of emission certified engines and fuel systems. Typical off-highway equipment applications impacted by this new regulation are material handling equipment; forklift trucks; sweepers; tugs; and portable generators. The new emission certified market in the US is estimated to be $180 million annually and is forecasted to grow to $400 million annually in 2006 when Europe and Japan are expected to implement the same off-highway industrial emission regulations. Regarding IMPCO: IMPCO and BRC design, manufacture, market and supply advanced alternative fuel systems and related products for the transportation, industrial and power generation markets. Headquartered in Cerritos, California and Cherasco, Italy, they have offices in Asia, Europe, Australia and South and North America. More information can be found at IMPCO's web site, http://www.impco.ws/ and at BRC's web site, http://www.brc.it/ . This press release may include statements, expectations and assumptions which are considered forward-looking statements. These statements include, but are not limited to, management's expectations as to future markets for the company's products and the company's ability to realize revenues and profits from existing and anticipated orders. These statements represent management's current expectations based on information available as of the date of this release, and we cannot undertake to update these statements. Moreover, because our forward-looking statements represent projections and expected results of operations, they are subject to various risks and uncertainties, many of which are beyond management's ability to control. Accordingly, readers should not construe forward-looking statements as assurances of performance or as promises of any specific course of action. Some of the factors that may cause our actual results to fall short of expectations include our ability to ship conforming products in a timely fashion, our ability to collect amounts payable under our contracts, our ability to continue to grow our existing product lines and develop new product lines, and our potential to lose business if environmental laws or regulations are relaxed or if prices for alternative fuels increase more rapidly than for conventional fuels in the countries we do business. Other factors that may have a material adverse impact on our business include the risk factors set forth from time to time in the company's SEC reports, including but not limited to those contained in the section entitled "Risk Factors" in its Registration Statement on Form S-1 declared effective on September 22, 2003 and in its Transition Report on Form 10-K for the period ended December 31, 2002. For further information contact Mr. Dale Rasmussen, Investor Relations, +1-206-315-8242, or fax, +1-206-315-8301, . DATASOURCE: IMPCO CONTACT: Mr. Dale Rasmussen, Investor Relations, of IMPCO, +1-206-315-8242, or fax, +1-206-315-8301, Web site: http://www.brc.it/ Web site: http://www.impco.ws/

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